Incidentally, since they changed the formula for throwing, I tried a couple other builds.
Went PT7 last generation. That's definitely too far in if you want to be a hybrid melee/thrower, even under the new formulas. It left me with just under 100 wpf for polearms which I felt wasn't enough. I could have reduced my armor to get some wpf freed up but I like my armor and don't really want to go less than what I'm wearing now.
I'm pretty happy with PT6 though. I should be able to have 116 polearm wpf (5 WM) and I like the throwing spears (I traded MW Heavy Throwing Axes for MW Throwing Spears). The spears do pierce, so better against armor and I get 4 of them per stack, so more total damage. Heavy Throwing Axes are frankly still better for "SURPRISE, BITCH" moments against medium armor targets and most horses but I think the throwing spears are better overall for a "hybrid thrower, heavy on the thrower" like I am.
If you want to be heavier on the melee, PT4 is good enough and should leave you ample wpf (with 4-5 weapon master, anyway). PT5 looks pretty good too but I'm not as fond of jarids since you still only get 3. My thinking is stop at PT4 or go to PT6. Or maybe go PT5 but keep using heavy throwing axes.