I am playing most time on duel servers. Whenever i want to turn the tide of a duel or get a top score on a server i just start using feinting. With proper feinting the most duels are finished in notime. Honestly, i dont like this feature you can wind up a swing for a good portion and almost instantly start a new attack from another direction. The most feints look - animation wise - totally wrong. For me the prediction and counter of those feintings are more a matter of luck then skill. For example when i fall for a feint sometimes i can manage to block the second imminent attack somehow. Sometimes i can raise properly the block but get screwed anyway.
For know i just equip a shield for this cases and start feinting myself + shielding to effective counter the most feints. I an not a shield fan but thats a good solution to stop the feintplay and many begin doing the same.
Many tell the biggest pro for the existence of feinting is that it can prevent neverending battles. Honestly i never experienced such neverending battles. When a duel takes time people become creative, try interesting moves and tricks and start using extensively movement and stance. I think this is where the game really shines and i personally love such intense duels. Many of my cmw mates feel exactly the same.
However for me the actual feinting mechanism is a bit broken.