Personally, I'd settle for fixing the collision detection on the move. I'd disallow people from turning once they have landed and until they're back in idle position (because I'd love to see YOU spin around when crouched forward like that at any speed). I'd fix the damage time (so once the saber is poking into the ground, it will no longer do full damage). And perhaps I'd make it use a little force power, seeing as the rather sudden speed burst and distance hints at the use of a little force jump, and would prevent people from spamming it.
It would still be a fast move to trigger. It would still kill in one hit. but it would also require people to aim accurately, and they'd run out of force if they spammed it.
But until we get the SDK/GDK, I'll just stick to private duelling servers where we can aggree on house rules for spamming/wh0ring/etiquette beforehand