By preference I would like to use a Two-handed Sword, but from what I can see, the axe functions the exact same way as the sword-- except with more damage.
Substantial differences between 2H axes and swords:
- 2H axes have 10 more durability than equivalent level 2H swords, which admittedly is pretty much irrelevant.
- 2H axes have higher max and lower min damage than an equivalent level 2H sword, but they have roughly the same average damage.
- 2H axes have a 1.5 crit multiplier, while equivalent 2H swords have a 2.0 crit multiplier. The 2H swords also have +2% more crit than the equivalent 2H axes.
In other words... If your character is crit heavy, 2H swords will be best for you, everything else being equal. If your character is not, i.e. it is the base damage range that dominates, then 2H axes and 2H swords will be roughly equal against low-armoured targets, while 2H axes will have an edge against high-armoured targets.
NOW, in practice, unless you are crafting your weapons yourself, these differences in the base stats are pretty irrelevant compared to which random damage modifiers the weapons have been granted (bonuses to base damage, elemental damage, increased crit, increased crit multiplier) as well as skill bonuses etc, but I hope this answers your question.
EDIT: This seems to be wrong (see later in thread). Further tests with crafting shows results that disagree with my conclusions here.
