Okay, I've seen some talk about this in other places around the web, so I thought I'd throw in my opinion here on the subject.
Now, before anyone wants to have a go at me, let me say that my top five favourite games are 3 - Halo 3, 2 - Skyrim and 3 - Oblivion. Two fantasy games there, and two TES to boot. So before people go on abuot how I shouldn't play the games... shut up. I love this game to pieces.
However, one thing that annoys me (aesthetically speaking) is the higher-level weapons. I get that this is fantasy, and other-wordly etc., but in no sense would a http://img2.wikia.nocookie.net/__cb20120512225620/elderscrolls/images/archive/9/91/20131229190117!Daedricdagger.pngwith spikes that would only get caught on the armour or even in the flesh of an opponant, rendering it useless, can ever be logical and therefore useable. And with the Daedric war axe, it has a similar issue. The spikes do nothing more than get caught. And the handle on a war axe is designed to let your hand slide up and down it, but there are two spikes pointing towards your hand on the bottom! I personally think the http://img3.wikia.nocookie.net/__cb20120529201509/elderscrolls/images/d/d1/Oblivion_DaedricLongsword.png is a better design, IMO. There are of course some more acceptable weaponry in the upper levels. http://images.wikia.com/elderscrolls/images/archive/7/77/20120120142203!Glass_Sword_%28Skyrim%29.png are a good example of a decent weapon. Its leave blade design is quite a common design, and it's not terrible. Perhaps a touch too broad, but eh, that is nitpicking.
If you want an example of a very good sword design, then actually look at the http://img4.wikia.nocookie.net/__cb20120814140306/elderscrolls/images/2/25/Dragontwohander.png, it's a good solid design. Not too fancy or anything with no spikes or what have you, it's just a big sword with a good shape.
My personal favourite sword is the Iron sword. I just like the simplicity of it, and in my hands (real life now) that Norse design of a blade feels better to me than say a katana (which is not very well balanced) or a European longsword (which are often too long for my liking). Second-best is Steel, because it follows that accurate design, so I likes it. For this reason, on say my human-race characters, I tend to just use the Restoration Loop to keep an Iron Sword in top shape throughout my game. The Imperial Sword is a nice, simple design, too, and often sported by my pro-legion characters throughout their whole playthrough.
For these reasons, rather than having to put up with my little bit of OCD slowly eating away at me, I've tried several sword mods that keep more in touch with the real world. (by the way, I do also use Ebony on some characters, and Elven weapons minus the battleaxe on non-humans).
That's just my honest opinion, and in case you need a TL;DR - I like realistic weapons over fancy weapons.
Now if you want the real expert's take on this, https://www.youtube.com/watch?v=TcsLd3dVNz8