Ok, I agree that a machete has it's place in the survival steel gallery, but I am going to again say it isn't for a cold environment. JoeZilla just pointed out to me over in WS&S that a frozen knot can take a chunk out of a snow&neally axe. I, myself have snapped a D2 TAK batonning when it was -10 or so out. No doubt you can clear bush well with a machete, but digging, prying and in general using it to do a lot of survival chores aint gonna happen.
I am with MrCoffee on this. An axe and/or a saw (some people prefer saw to an axe and I kind of see why) IMHO suite for cold climate and woods better.
edited: another thing I find useful is a small shovel.