It really depends on what u want to wear and use.
If u can afford to use the "best" (expensive) swords then pick one that is long. Best swords only have +1-3 damage and maybe +3-5 range and +1 speed when comparing to medium priced swords. That really isn't much.
I use scimitar. I don't use elite scimitar because it doesn't give any boost really and it costs a lot more to repair.
Just check the medium priced swords u might want to use, they are just as good, but don't drain ur gold so fast so u can afford to buy armor or a better horse instead.
Sarranid Guard Sword 4816
weight 1.25
requirement 6
spd rtng 99
weapon length 100
swing damage 30, cut
thrust damage 20 pierce
Nordic Champion's Sword 7842
weight 1.35
requirement 7
spd rtng 97
weapon length 102
swing damage 32, cut
thrust damage 21 pierce
Compare: Nordic sword gets +1-2 damage, +2 range, speed -2!, + some weight for stun effect. 3k more gold.
Is it really worth it? I don't think so. Best weapons are insanely more expensive and offer nothing in return. Personal fighting skills are more valuable than weapons.