As much as I love my grandma stick, It’s a novelty weapon right now.
Every single class except the Knight goes down in three solid hits. That’s right, even Archers (maybe unless you get two overheads to the head, not 100% sure on that one). Knights take 5 hits unless you land strikes to the head at some point.
The weapon’s problem is quite visible even in the crude in-game stats. Let’s compare it to the Broadsword, one of the MAA’s best combo weapons, hm?
It has 24% damage, compared to the Broadsword’s 41%. The damage type may be ‘better’, but the actual gains are nonexistent due to the puny base damage. You lose one hit to kill againist every class but the Knight, againist whom you gain nothing.
It has 77% speed, compared to the Broadsword’s 82%. So it can’t dish out it’s inferior damage faster; quite the opposite, in fact. From my decidedly anecdotal experience, you’ll be catching people off guard a lot less than with the Broadsword.
You could say it makes up for those problems in reach. A few minutes with it will tell you otherwise. It is not long enough to keep a remotely agressive enemy away while kiting, and most certainly not long enough to effectively threaten two or more enemies at once, unless said enemies are attemting to lick you to death.
While it’s ability to combo is passable, the fact that you’re going to need one more hit to down every single non-Knight class means the enemy has much more time to react and land his two hits needed to kill with most weapons. This is especially true of popular dueling weapons like the Sword of War. You can’t risk facehugging a Knight and mashing out a long combo, especially considering he can just ignore your initial damage and time his counterattack right after taking a hit.
The usual Man At Arms tactic for dealing with this scenario is to hit and run. Wait for an opening or use your dodge to bait a mistake out of your enemy, move in, get a free hit or two with your faster weapon, and get out. However, both the pitiful base damage (the lowest of all Man At Arms primaries) and slower initial speed (the second slowest of all Man At Arms weapons) make this tactic far less effective. The bit of added range does not help to a noticeable degree in most scenarios.
And finally, due to (again) the low base damage, and the need to get a lot of individual hits in, feints are relatively bad with this weapon. While most people will not be able to appropriately react to them, aggressive enemies can bank on your inability to trade hits even againist other Man At Arms weapons and go for a strike every time they expect you to feints.
Every single opponent I’ve downed with this weapon, I felt like I could’ve done the same to, in half the time, with any other weapon.
My suggestion would be to increase it’s damage to just barely enough for overheads with a head hit or two to be able to three hit knights. After that, either the speed, or the range, or other stats like combo speed, recovery time, or even the delay between parries as the OP suggested, could use some touching up. Then it may find it’s niche as a weapon that is as powerful againist Knights as other classes, but weaker than usual againist said other classes, and a few extras to make up for it.