The norm seems to be sword yes, for most people. Myself I go for the axe, it looks epic, especially the lv 85 FA one, and you also get to mess up your enemies armour, meaning not only do you do more damage to them, your fellows [if you are in a fellowship] kill enemies faster.
Ordgaric. Level 100 Guardian. Saelrein. Level 100 hunter. Nimraloth. Level 100 Captain. Leofwyne. Level 100 Warden. Others. Feandor. Lv 85 Champion. Doradonna. Level 82 Minstrel. Serabrand. Level 63 Burgler. Glothren. Level 63 Runekeeper. Lythgier. Level 50 beorning. Malvadan. Level 44 Loremaster.