Graphics are good but fighting style is so clumpy.
I wouldn't say the combat is clunky (Or did you really mean clumpy?). It's more that some of the attacks seem a bit... odd, or maybe it's just that many swings suffer the exact inverse problem Warband has. In warband the beginning and end of your swings usually deal less damage and have a better chance of glancing, but it seems in Chiv every single attack frame is dealing about the same amount of damage as the apex of the attack. I can be hugging a guy's face and stab it perfectly fine with a spear, and sometimes at the very end of a thrust just as my guy is pulling the weapon back I will land a hit on someone. It just seems the game is based a whole lot less on momentum in all aspects. It doesn't make the combat bad at all, it just makes it slightly awkward when you get struck by the very last part of a swing when it shouldn't be doing much damage and it fucks you up anyways.
The swings and combat in general are a lot slower than in Warband, but it's also a bit more methodical and less spammy.
Also, archers can move around at just about full speed with a bow drawn from what I can tell, annoying bastards.
EDIT: Also, it's a little difficult to tell how much range your attacks have, it's a matter of learning each weapon I suppose.