Sounds quite productive, So does the combat seem more balanced from the current retail version?
It's much more interesting.
In the retail version, everybody is the same, the only difference is the sword. In the retail version, if you're facing the opponent correctly you will hit them, no chance to miss, and the damage dealt is always the same, based on the sword. That's terribly boring.
Now there is a whole lot more weapons with varying max hits, strike ranges and swing speeds. Throw player skill levels into the mix, and a proper dice based combat system that means you can hit or miss even if you're facing straight at the player. And if you do hit you're not always going to get a max hit. Throw in a truck load of different armor items and the results are even more unpredictable. Add in some enchanted jewellery to spice it up a bit more.
If you're wondering about the balance between Melee vs Ranged, it's much more balanced now. If it's a slug match, Melee will usually win if the players are of similar skill levels. The Elven bow does boost the archer significantly though which can make the difference.
It's not comparable to the current retail system.
I won't post any of the simulator results. It's up to the players to experiment and find out what works best for them.