Grip,
Believe it or not, I think the initial bite is the other way around! The Carbotech pads hit a little harder at low pedal pressures than the Hawk compounds do, but as I mentioned, once you're into the pedal, they're very similar.
By softer, I meant less abrasive... When you use the Hawk pads at low pad temps (under ~300*F or so), they are just chewing the rotors up. Not so much with the Carbotech pads, but the converse to the situation is that the Carbotech pads tend to wear heavily, where the Hawks just don't. Even at temp, I can honestly say that the Hawk compounds last longer than the Carbotechs, but at the expense of rotor wear.
If I had to describe the difference, it would be like the Carbotechs have more carbon in the pad, and the Hawks more iron. Not the whole story (I honestly don't know what the relative compositions are), but that would be my impression...
One point that Philostang brought up that I would like to expound on is what happens once you get to around 50% pad wear... The pad material on BOTH compounds acts like an insulator between the rotor heat and the brake fluid, and once past 50%, you're going to start having to bleed aggressively as you WILL overheat the fluid. At least if you drive like a knucklehead like we do... The biggest difference here between them, though, is that the Carbotech pads tend to wear even more aggressively past 50% than the Hawk pads do, AND will transmit heat a lot more. The Hawk pads work well enough past 50% that you'll be tempted to just keep running them, but you'll pay for that in boiled fluid, time in the paddock bleeding them, and short sessions from spongy pedals if you do. I imagine that there would be an advantage in really long sessions, like an enduro race, but for the typical 20 minute HPDE format, I would just keep the pads fresh, and not have to deal with bleeding them all the time.
Trust me, I'm not trying to sound like a Hawk "fanboi," because given my druthers, I would really rather have the increased initial bite. HOWEVER, the last set of XP12 pads that I ran lasted seven or eight track-days, and once I moved to the Hawks, I got fourteen out of a set. Granted, I was experimenting to see just how much I could get out of a set, and wore them down to 1/32" (NOT recommended!), but it was interesting that there was no fall-off in braking capability (excepting fluid temps) once I was past 50%.
Summary: The Carbotech pads don't last as long as the Hawk pads. The Carbotech pads fall off in performance past 50% at a much higher rate than the Hawk pads. You can run maybe three sets of pads through on a rotor before you're done with the Carbotechs, but with the Hawks, it's closer to 1:1.
In the end, while MSP's comment about rotors and pads being consumables in the brake poll is spot on, you CAN still massage your choices to make a lower net impact on your wallet. In my case, with OE GT500 rotors being available for under $100 each, I have a lower net cost per day running the Hawk pads, even though they tend to be a bit more expensive than the Carbotech pads, primarily because the pads wear more slowly, AND I can run them past 50% if I have to. PLUS I get a pretty hefty discount on the Hawk stuff, that I can't get on the Carbotechs. Before anybody asks, no, I can't pass that on...
In your case, with the higher rotor cost, the least expensive alternative very well may be the Carbotechs! You would have to do your own math to really be sure, but for rough numbers, figure one set of rotors and three sets of pads for Carbotech, versus two sets of rotors and two sets of pads for Hawk.