1h stats are pretty balanced, but the animation sweet spots need some work. 1h right swing has a massive delay (balanced with the reach bonus), but the fact that it glances during the first 50% of the animation makes it only useful against unaware people. And 1h thrust is a dumpster fire of fail.
It must be a EU thing, because the 12 Str steel pick spammer isn't exactly the scourge of NA. You see them sometimes, but they are one-hit by any 2h weapon, and everyone just backpedals/kicks them. When a 1h is wrecking the NA siege server (only one I play), it's usually with a cut weapon.
I used a +3 Steel Pick for at least a generation, and I have had better success with nearly every other +3 1h weapon I have tried (KAS, Grosse Messer, Military Hammer, Military Cleaver, 1h Battle Axe).