Interestingly, Ive never heard of swords being sheathed on the right. All the evidence Ive ever uncovered, anywhere from the 13th century to the 16th shows swords sheathed on the left hip.
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login Additionally, most weapons used in two hands were not sheathed on the back or otherwise. The Zweihander (known in this game, ambiguously enough, as the Flamberge) was never sheathed as we currently have it, but rather carried over the shoulder.
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login Additionally, halberds, two-handed axes, and cleavers were not sheathed.
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login In fact, the longsword of the 14th century onwards is the only weapon used in two hands that was sheathed, as far as I can remember. And the longsword was used alternatively in one hand, two hands, or half-sworded.
Additionally, the limiting factor of a hip sheath is not the point at which it touches the ground, but rather the point at which you can free it from the scabbard or similar contraption. In my experience, a fourty inch blade is at the bare edge of what can be drawn from a scabbard, and this only with full arm extension, and not very quickly.
Of course, none of this has any relevance to the balance of the game mechanics. Just wanted to add my two cents.
PS: Sorry for length of post.