Unfortunately it seems no one has done a speed comparison yet, at least not with number crunching and posting the results.
Various threads that I have read recommend using the sword for bashing. One thread recommends L1 hammer and L2 sword in pvp.
My limited testing with forged weapons, and the same battlerage strat, have me killing vashnar mountain lions in 29 seconds with a hammer, and 35 with a bastard sword.
I'm in no hurry to buy artifact weapons. I may even experiment with DWB before buying weapons, but I am keen for a discussion on 2h weapons , both pvp and pve.
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Answers
Everyone knows swords are cooler than hammers, though.
And you won't understand the cause of your grief...
...But you'll always follow the voices beneath.
What small tests I've done show that the damage is almost the same. Against the lions each hit is either 9 or 10% for both weapons. I may have imagined it but it seemed like the bastard sword might have done 10% more often. To do real testing I need to find a target that is weaker - damage differences should show up better that way. Also, I shouldn't have mixed in battlerage attacks.
The hammer is significantly faster though, so I'm definitely killing stuff faster when I time first hit to kill. A little bit easier to to flee as well with a faster balance.
At some point I will do the tests properly - try and copy Mindshell's testing in this thread
http://forums.achaea.com/discussion/5800/pve-analysis#latest
Unless I just don't understand how crits work here.
I assume that's why I use REAP instead of CULL as a Depthswalker. Why Thyr is considered better than Mir, unless you need to hunker down. Etc etc.
As you can see, the increase in 5 speed for the bastard gives more than 0.2s speed increase.
While the 3 speed for the hammer is essentially unnoticeable (and irrelevant with only 100 repetitions).
I also did a quick damage test using Great Rock Stirges as the test subject. Warhammer did 63% damage to the target per hit, while the bastard sword did 68%. There was no difference in damage between artefact and non-artefact weapons.
Conclusions:
I would like to test hammer speeds more. I'll see if I can borrow a level 2 hammer and see if there is any noticeable speed increase. It's possible there is a diminishing returns mechanic kicking in, or that my test results were flawed somehow.
I would also like to test damage more - I'm wondering if weapon damage doesn't affect the pve slaughter.
Lastly, I will eventually compare the two warhammers with pvp attacks, as it would be nice to figure out if it is ever worth buying, for anyone.
Spoiler has the weapon stats in it:
I don't remember there being a huge difference between forged/artie bastards in damage, but getting under 3 seconds a swing is huge in terms of killing speed.