Long War Axe is superior to the Great Long Axe, and I'd even prefer the Long Axe over the GLA. 94 speed for LWA, 97 speed for LA and only 91 speed on GLA...
*EDIT*
Since nobodies done this yet, for easy comparison:
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login123 length versus 125 is negligible, and when you're over 30 cut damage, I would give up 3 cut damage for 3 speed any day of the week. I don't see how any can justify using the GLA over the LWA, it's an obvious choice to me.
*EDIT #2*
I see LA is only 12 strength...and still does 41 cut, I'm thinking a 12/27 char (1 IF, 4 PS, 9 Ath, 9 WM, 181 polearms WPF) might be a really fun build to try out (would be fast and still do a decent amount of damage from the base damage of the long axe)