The reach seems identical to the previous animation to me. It is much more effective in a fight against infantry, but I can't tell if that is because people aren't used to the animation, or if it is truly a superior one. Against cavalry, the effectiveness is greatly decreased, but if you're attempting to fight cavalry with a one-handed weapon, you are likely going to have a sword with a stab. If you've got a pick or mace, you probably have to pull some crazy jumping bullshit or just be really good/ the other cav be really bad.
However, even if I feel that the animation is a "buff" to 1h, it looks like dookie-butter. It looks very awkward, and does not seem like swinging a weapon in that fashion would put much force behind it. I can't tell if I'd rather have a good-looking animation that is servicable, or a bad-looking animation that is amazing.
I think I'd rather have a good-looking animation that is decent enough to do stuff with.