Edit: Looked at the changes for next tournament. I think it looks pretty good. When does the tournament start?
Probably in about a month or so. I need to take a break and do some serious work first.

if Jim took blunt instead of blade and used the Mace of Leeching or whatever it is that I used.... I probably would not have won.
I'm not so sure about that. I think Gurkog would have still won because of his higher AR and Blunt skill. What worked most in Gurkog's favor is that the battle was fought at level 26 which was just enough for his magic skills to reach 50. In a regular tournament Gurkog would have spent the first two rounds casting Apprentice level spells andhe'd only upgrade to Journeyman in the semi-final match. Crazy Jim on the other hand has 50 Conjuration and Restoration already at level 16 so he has his journeyman level spells throughout the entire tournament.
I think the ultimate character would have to be:
Gender: Male
Race: Breton
Birthsign: Atronach
Class: Deadliest Warrior
Specialization: Combat
Favored Attributes: Luck, Endurance
Combat Skills:
1. Alchemy
2. Alteration
3. Conjuration
4. Block
5. Blunt
6. Heavy Armor
7. Restoration
Magic Item Budget: 5000
Total magic item value: 4949
Weapon: Mace of Feeding (2154)
Shield: Sylvan Barkshield (1815)
Armor: heavy
Ring: Ring of Blunt Force (980)
Alchemy: 2 Potions of Healing
Spells: Restore Health (self). Summon Skeleton Guardian, Shield (self)
AI: default
Health: 232
Magicka: 700
Fatigue: 310
Damage: 17.3 physical + 4 Absorb Health for 4 seconds
Armor Rating: 33.8 from armor + 4.75 from Elven shield + 15 from enchantment + 30 from spell = 83.5 AR
Special Defences: 50% Resist Magic, 50% Spell Absorption
For comparison, Gurkog has 250 Health, he does 18.8 physical damage with his mace, and he has 85 AR. But he doesn't have potions that would heal him by 70 points. Gurkog also has ess Resist Magic and on average he Absorbs only 4 point of health with his mace, while my Deadliest Warrior does 6.
Gurkog does: 3.1 physical damage + 4 Absorb Health
Deadliest Warrior does: 2.6 physical damage + 6 Absorb Health
After we factor in the healing received the effective total damage output is 1.1 for Gurkog and 4.6 for the Deadliest Warrior.
That's the theory at least. I might run a fight to see how it really goes.
Edit: I ran 4 test fights and Gurkog won 3 times. The fights take really long though. I took away their summoning spells to speed things up and the fights still took 3 minutes each. Generally Gurkog is the first to start healing himself, meaning that he is in fact losing at first. But becasue the fights last so long they eventually run out of charge in their maces which is something I didn't consider in my theory. Another thing is that as the fight progresses, their armor gets damaged nad their AR drops. But Gurkog has 57 Shield enchantment and my guy only 45. A third effect I haven't considered in my theorising is that they don't make optimal use of the weapon enchantments. Absorb Health can get broken if they move too far apart and if they make 2 quck hits they effectively waste a charge.
I'll now check what happens if they do use their skeletons.