It is my impression that, at high skill levels, Axes, Long Blades and Unarmed Combat are stronger than Maces and Quarterstaves. Then again, I've only won one game so far. my reason is this:
a GSC, the ultimate mace, deals 22 damage (+ enchantment)
a Lajatang deals 16 damage, and a Great Mace 17
a Executioner's Axe deals 18 damage, and allows you to hit all enemies around you
UC deals 30 damage (at level 27, with no mutations), allows a shield, and is as fast as a weapon of speed
a Tripple Sword deals 17 damage, and allows riposte
In my evaluation, having 4 less base damage is easily worth cleaving, so even as an ogre I will be more tempted by an Executioners Axe than by a GSC
.
Of course, the weapons are actually balanced by the xp requirements, with the weapons which are worse in the end-game costing less xp & having an easier early-game. personally though, I want to have a really powerful character in the end-game, so I usually pick something which has a high potential, unless I'm playing a caster.
I think that for the purpose of a 3-rune victory, the weapons are probably balanced already.