Looks really good. Do you think that instead of standing toe to toe slugging it out the entire time, that there could be more of a "dance" to the fight with some circling, shield bashes, lunges and dodges with the ability to strike someone in the back after they've lunged and missed and stumbled?
That's probably a ton to ask but my feeling is if sword fighting is to be a key feature of the game, then it should try to go the extra mile in making this particular aspect exceptional. Falling short could just make combat very tedious and unexciting after a while.
some battles on youtube
http://www.youtube.com/watch?v=LGv7_6TjuCYhttp://www.youtube.com/watch?v=E5LeHpiIsFIhttp://www.youtube.com/watch?v=1zGjex6qDtMand these guys show some authentic techniques
http://www.youtube.com/watch?v=Y3DhjFUOG6Yhttp://www.youtube.com/watch?v=LX8TFHyDVuE