I have a Coolscan 5000.... so some of this will not apply directly. but:
I scan at 16 bit depth to tiff. I rarely use the DEE function, as I find that Photoshop's "Shadow/Highlight" control does a better job of the same thing. DEE is really, really slow on my computer (Apple 1GHz G4 Powerbook), and adds about 3.5 minutes to the scan processing time.
The new ICE IV is really good, better than the previous versions by a big margin. If I am careful to clean the slide before scanning (I have a dedicated microfibre cloth for slide scanning that is tied to the scanner) I commonly get scans that require NO retouching.
The Coolscan V is actually a 14 bit per channel scanner, not 16 bit, so you're not going to get 16 real bits of information per channel.
A 4000 PPI 16 bit full scan of a 35 mm slide comes in at 110-117 MB, depending on the size of the film rebate. I get 117 MB files when I scan the entirety of the frame on unmounted film, and usually 110 when the slide is in a mount. For printing purposes there's no point in staying at 16 bit. Sampled down to 8 bit the scans are 54-58 MB.