Not sure on this one. It is hard to compare the two combat systems by themselves because there are more factors than just weapon skill involved. It was a bit lame the first time I played Morrowind and I was killed by a rat because I had a dagger and a shortsword skill of 12. Oblivion was a bit too far on the other side of the spectrum, whereas you could kill an enemy with any weapon regardless of your skill, it would take longer if your skill was low, but you could still just do it. I want something in the middle. I want a visceral fighting system, and I do not want it governed by odds (ie dice rolls). However, I do not want to be able to pick up a war hammer at level 2 (with almost no heavy weapon skill) and be able to use it properly. If I had to pick up a spear right now and use it to defend myself, I would be a dead man. I have never used a spear before, and even though I know which end is the business end, I would still end up falling on my ass and dying. Sure, I could kill a small animal without much trouble, but a bandit with a dagger . . . I'm toast. So a nice balance between the two would be nice.
However, with the new system and complete removal of classes, you'll never be
incompetant with any weapons, to prevent people from not being able to access a weapon style.
Of course, relatively speaking, it may be possible that you do end up
relatively incompetant. I do hope low-level combat looks less competant and tight than high-level combat, with easy-to-dodge or block blows delivered with low weapon skill, but equally bad attempts to dodge and block them, with greater recoil after weapon contact on both parties (flailing with a dagger can be fast, but as soon as it bites flesh, it goes like "What now?", and if its' blocked by a shield, the animation and look should convey "Oi! No blocking!" and "Did I really just block that dagger?", respectively). And while a minor increase in speed at higher levels could be welcome, I'd rather it be obviously based on superior balance displayed in combat and assertive blows, not going from painfully slow strikes with a dagger to an insanelt fast whirlwind of death in front of you with a Greatsword.
Two low-leveled warriors with Greatswords should look like the fight between the Green Knight and Black Knigth from Monty Python.