In my case, I'm more interested in the base versions of these cars. As it turns out, the CX-5 comes in several thousand dollars cheaper than a CR-V, mainly because it comes with the 6-spd manual that I WANT.
Just going from the "build and price" for each base model (with taxes):
CR-V: $31,400
CX-5: $28,300
Yes, there are some difference in the equipment.
I haven't driven the 2012 CR-V, but the last two generations were pretty good appliances, but that's about it. Of course for many, that's critical so I can see why they sell so well.