I believe that each of the classes-- Blunts, Blades, and Axes-- have special abilities associated with them in Skyrim. Todd said something about it in a Q&A Interview podcast.
Blades can cause Critical Hits, Blunts can ignore (some?) enemy armor, and Axes cause bleeding damage.
Hope that helps!
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On a related note, I would like to say that I've never found Blunts to be worthless. They dealt a fair bit of damage in both Morrowind and Oblivion, and I used them with several of my characters. I suppose it's possible that the best sword in the respective game was better than the best blunt weapon in that game, but sometimes it's just more
fun to beat someone to a bloody pulp with a mace than to find the weak points in their armor with a blade.