That's all irrelevant. The steel pick is a short weapon which, unless you know how to use it, is difficult and ineffective. A good example of this is Paroxysm, who just described the build in exactly the way one who's inexperienced with it would presume it needs to be played. I played with a warhammer (similar damage and length) for a long while in medium-heavy armour + huscarl and was quite effective. I didn't have high agi but generally well-balanced builds (18/18, 15/21, etc.). It's easier to kill with a short weapon than people seem to suppose - it just requires a change in tactics.
Even when one is quite good with the class one may not actually find it fun. I moved away from short 1h weapon with the new patch and haven't gone back. It's not because I'm more effective now, or because of aesthetic value, but because the pick has just one dominating tactic that must be used if it's to be effective. Other load-outs, such as my current sword+board combo, are often more interesting to play.
The point of this thread is that the pick's primary weakness, its length, is not significant enough to balance out its exceptional speed and damage. People have proposed to decrease its speed, decrease its damage, or to perhaps even remove the weapon altogether. I'd prefer a speed decrease and a slight length increase, in turns making the weapon more tactical and giving it more tactical options. If all one has in response to these ideas are weak syllogisms about anything overpowered being therefore universal then they should leave this thread now.