Is there a known formula to determine how long it takes between strikes based on a weapon's speed (which is a larger number the faster the weapon)? In http://cs.elderscrolls.com/constwiki/index.php/FPowerAttackDelay, it's:

weapon attack time = 2/(5*WeaponSpeed)

but the range of Weapon Speed values Oblivion uses is different from Morrowind.

I'm afraid I don't know...

But you might be able to find out, by trying out weapons of different speeds (1, 2, 3, 4 and 5).
Work out for each how many hits you can manage in 60 seconds, then you can find the hits per second, which would give you a big clue as to the formula

Hmmm, yes, there are a bunch of practice dummy mods I could use to test this.

Ok, I'll use three data points:

• speed: 1.0, 6th bell hammer, 63 hits per minute
  
• speed: 1.75, steel staff, 78 hits per minute
  
• speed: 2.7, glass dagger_symmachus_unique, 91 hits per minute

That should give me enough information to figure out the formula, I think.

UPDATE: Here are a couple of approximations:

attack delay = 1.1 - weapon speed/6
or
ad = ws²/13 - ws/2 + 4/3

The actual formula is likely to be simpler than this; I'm not sure how accurate my test results were.

Seems to me that the 6th House Bell Hammer, with a speed of 1, so nearly did 60 hits a minute, which would be 1 a second...

Which would probably make the attack speed 1/ws.

But maybe that's just too easy xD

1/ws would allow the Dagger of Symmachus (speed 2.7) to hit 162 times in 60 seconds. One hit per second for a weapon speed of 1 does sound right, though. It's a start.

One bit to note is that these tests are for maximum attack speed of the weapons, which means a minimum of damage from their range of damage values. A full pull-back and swing each time would produce very different results.