St Georges Day or October
It appeals to me to have a bank holiday in October as after the August Bank holiday we don't have a break (except for schools who have half-term) until Christmas.
But it would be nice to celebrate something so british as St Georges Day, especially as the Welsh have St Davids Day, the Irish St Patricks and the Scots St Andrews.. even nicer is the Cornish celebrating St Pirans Day but we English don't actually celebrate our Saints day which I find quite sad.
Additionally the May Day bank holiday is a recent innovation, if you can call post 1971 recent lol. Its originations are synonymous with international workers day or labour day a day of political demonstrations and celebrations organised by the unions, communists, anarchists, and socialist groups so not having it wouldn't cause me any personal issues.
Also we have a glut of holidays with Easter sometimes being quite close to the May holidays and if you celebrate St George's day it might also clash occasionally.
So all in all, I think I prefer the October date, or even better let's have both!