Both the Malibu Corvette Limited Edition Sport-V 2010 and the Malibu iRide 2005 are modified-V designs, so the buying decision usually comes down to a handful of practical questions: how many people are you putting on the water, how far do you trailer, and what does your tow vehicle weigh?
The power gap is worth calling out. Rated to 505 hp, the Malibu Corvette Limited Edition Sport-V 2010 has a 105-hp advantage over the Malibu iRide 2005's 400-hp ceiling - enough to notice on acceleration and at cruising speed, particularly with a full passenger load. Fuel capacity breaks the other way: the Malibu iRide 2005 carries 41 gallons versus 37 gallons in the Malibu Corvette Limited Edition Sport-V 2010. On a lake day that's negligible, but for coastal cruising or long reservoir runs the extra range matters.
For family outings this is probably the sharpest distinction between the two. The Malibu iRide 2005 is rated for 10 passengers, while the Malibu Corvette Limited Edition Sport-V 2010 caps at 8. If you're regularly pulling extended family or a group of friends onto the water, the extra seats on the Malibu iRide 2005 could be the deciding factor.
Bottom line: Choose the Malibu iRide 2005 if your priority is putting more people on the water - it handles 10 passengers and at 21,0 ft it has the deck room to back that rating up comfortably. The Malibu Corvette Limited Edition Sport-V 2010 is the smarter pick if you want a lighter, easier-to-trailer boat rated for 8 that costs less to run day-to-day.