Realism wise that kind of clanging destroys weapons and isn't a smart way of blocking. Realism wise most sword fights would last a couple seconds.
I'm not a fan of too much realism, so this actually sounds kind of neat. It's NOT realism though.
It depends. In eastern sword fight duels with, say samurai, the blades are meant to cut and the sword fight itself would be very quick.
However, the warriors of Skyrim are essentially vikings. And vikings qualify as representing the west. In the west, the swords and weaponry really more on chopping, and brute strength so the sharpness of the swords is not as important. Therefore, there would arguably be lots of clanging of swords since there would be parrying, since the edge of the sword is not as important as the strength behind it.