According to the research I've done, L6 is supposed to have more impact resistance at the same hardness (in the ranges swords are normally tempered to) compared to 5160. There was one engineering type guy on the forums a while back who said he had a spec sheet comparing both steels, and his sheet said 5160 was tougher. I asked for a copy of that paper but never got a response.
I know Kevin Cashen has explored this in depth, complete with preparing identical samples, examining them with a metallurgical microscope, and he even has his own charpy testing machine (which tests impact resistance) that he's subjected them to. He doesn't seem to like coming right out and saying what is "best" comparing one steel type directly with another, but has pretty much said L6 beats about anything else commonly used for swords in impact resistance.
Having said that, according to spec sheets from the steel manufacturers, S5 is much tougher than either L6 or 5160 at the same hardness. About the only one I could find comparing apples to apples said S5 can better withstand impacts at 60 Rc than L6 can at 52-54 Rc! But to my knowledge very few people have verified that with "real world" testing, so don't take that as gospel. If I had the time and resources I'd love to find out the answers myself.
Usually when people mention "edge retention", they're talking about wear resistance. I.E., if you're slicing up rope, cardboard, and old carpet all day, a highly wear resistant steel will have the best "edge retention". But in my opinion, this means absolutely nothing when we're talking about swords that could be used on a battlefield (if you had a time machine, that is). The only thing that matters in a practical sense is the edge's ability to resist gross damage and deformation from impacting hard stuff at high speed. You get strength and resistance to bending and rolling from hardness. (indeed, this is basically what common hardness tests measure) Then in order to keep this high hardness edge from chipping out or breaking entirely, you need toughness, which comes from using the proper steel chemistry/type. But even the best blades would need to be sharpened to remove small nicks long before they got dull via abrasive wear.
An exception to this from a modern context would be a sword only ever used for test cutting tatami or other soft targets, but that's not really what I was getting at above.