The BEST we can say for sure is that it's an elven sword, and I highly doubt any normal TES weapon-glass was used in its creation. I explain below.

http://www.elderscrolls.com/skyrim/media/screenshots/ice-wraiths/ of an Elven sword (compare to previous Elven swords in TES), and it matches the design elements of Elven armor. And the Elven armored PC(?) with it http://www.google.com/imgres?imgurl=http://gamrfeed.vgchartz.com/galleries/2011-04-01/skyrim-screenshots-040111/skyrim-screenshots-040111_1301675133.jpeg&imgrefurl=http://gamrfeed.vgchartz.com/story/85312/new-skyrim-screenshots-not-a-joke/&usg=__WWEjIFOUQOjOGAPk_J4buxNUoXk=&h=360&w=640&sz=133&hl=en&start=63&zoom=1&tbnid=H_amQK04X-VKaM:&tbnh=83&tbnw=148&ei=QkiZTYjyCoeFtgfiu6CHDA&prev=/images%3Fq%3DSkyrim%2Bnew%2Bscreenshots%26hl%3Den%26sa%3DX%26rls%3Dcom.microsoft:en-us:IE-SearchBox%26rlz%3D1I7SUNA_en%26biw%3D1899%26bih%3D902%26tbs%3Disch:10%2C598&itbs=1&iact=hc&vpx=90&vpy=424&dur=453&hovh=168&hovw=300&tx=162&ty=96&oei=v0eZTfDfCemV0QGv7YHtCw&page=2&ndsp=67&ved=1t:429,r:11,s:63&biw=1899&bih=902
See the sword in the trailer lit up at 1:35 as well. Here is a screen http://www.google.com/imgres?imgurl=http://attackofthefanboy.com/wp-content/uploads/2011/02/Elder_Scrolls_V_Skyrim_Screenshots-10.jpg&imgrefurl=http://attackofthefanboy.com/news/elder-scrolls-skyrim-dragon-shouts-collectible-powers/&usg=__E_F9so6g_btp2uwVdFaZBNQiBHY=&h=347&w=620&sz=47&hl=en&start=63&zoom=1&tbnid=MZkkNYB0fJboTM:&tbnh=81&tbnw=145&ei=5keZTbqXBcKBtgf1saz3Cw&prev=/images%3Fq%3DSkyrim%2Bnew%2Bscreenshots%26hl%3Den%26sa%3DX%26rls%3Dcom.microsoft:en-us:IE-SearchBox%26rlz%3D1I7SUNA_en%26biw%3D1899%26bih%3D902%26tbs%3Disch:10%2C367&itbs=1&iact=hc&vpx=721&vpy=532&dur=3672&hovh=168&hovw=300&tx=153&ty=99&oei=v0eZTfDfCemV0QGv7YHtCw&page=2&ndsp=67&ved=1t:429,r:4,s:63&biw=1899&bih=902
Here's the http://2.bp.blogspot.com/_4lrm97dBqNo/TTBT9yT0JnI/AAAAAAAAAWc/7xFGXKipUOM/s1600/skyrim_007.jpg that matches the armor

EDIT: removed additional info to move it to new thread about New Armor Design

But the elven mace doesn't match the style of the sword at all. Maybe for this game they're going with glass equipment being designed by elves, while also having fully metal elven equipment?

I would say it absolutely does match the armor. In the screens, compare the color. It's an Elven armor golden color. The sweeping angles of the blade complements and the curves found on the Elven armor as well.

And on the actual Elven armor concept art, notice the feather shaped bladed look of the armor accents, and the harsh bladed sides of the mace head and handle. As for the sword, it's typical Elven blade design, not much new.

I think the only thing still puzzling to me is the armor/sword color variation between the 2 screens indoors and the ice wraith screen. Perhaps there is something more to that difference....time for a new thread.


EDIT:


Btw, I made a new thread exclusively about the new armor and weapons. So hopefully we can discuss all that there and leave this thread behind.

I definitely think the mace looks like it's elven. I'm just saying I think the sword is glass. The mace and the armor match; the sword and the armor do not, other than the little pieces from the hilt and the metal that runs up the blade.

http://img810.imageshack.us/img810/4772/glasssword.png

I agree that the shape matches elven, but the material does not.

What I'm starting to hope for: weapons can be found and made with both a style (elven, nordic, dwarven, imperial, daedric, etc) and a material (iron, steel, glass, ebony, etc). Although I doubt it would be done especially since some combinations (daedric and anything but ebony) wouldn't fit the lore. Then again I think only the daedra can actually make daedric armor/weapons so that probably won't be in the crafting system anyway.

Now that I look at the color more closely, I agree as well. However, it doesn't appear to have the same color in the still screen from the trailer (in the cave). It seems to be more properly colored there.

I'll take another look now and repost my ideas on the new thread.

1) I'm with the "it's glass" crowd. I'm waffling if I'd call the design "elven" per se. The fluted design looks like other TES elven weaponry, but I have no idea what the Skyrim developers will be labeling it.

2) Glass and ebony in Tamriel are not the same as glass and ebony in our world. Their stuff is MINED, for pity's sake.

That better not be glass! They ruined glass in Oblivion, if they make it as dumb and panzy looking as that I'll Fing rage. Where are the khajiiti or argonian styled weapons anyway, I want short bows again. Now dwemer had some cool stuff, even in oblivion they were pretty cool, But I liked how in morrowind they doubled as tools, like the battle axe sixtant!