...On the topic of physics in general, point of impact, mass distribution etc we have put quite some care into this and it should show. Which part of the weapon you hit with and how is very important, it affects the results of weapon collisions in various ways....
...Slash damage is already different from other damage types in that it can in fact cut as well as chop, but we're also adding a specific draw cut mechanic which allows you to pull the weapon across the opponent's body as you strike by pressing a key. A similar mechanic will be used to allow hooking with polearms....
...You've probably noticed all weapons have a Balance stat. One of the things this stat does is affect the speed of transitions between parries and attacks etc. The mechanics are currently incomplete though as we're introducing the skill system. The Balance stat also affects the accelleration curve of weapons....