Honestly, I like the slower style of play. And not because I prefer headless chicken action. It's because I like a thought out battle. I like to have to wait for openings and time my moves. And I like the fact that you can actually block. I could stand to see blocking toned down a little, or maybe up parrying instead. IE: make it more likely to knock a blade away than it is now, but leave the blocking the same. Something like that.
Regardless, I like 1.03's blocking system, and I don't care that it's been slowed down.
I don't even mind it in FFA. I do think that CTF probably suffers some, but then CTF with sabres seems goofy to me anyway. I'd rather play that with guns. At any rate, you can downgrade blocking on your server if you want to.
BUT, I have to say that the game is INCREDIBLY boring when you have these one hit kills in it. And you know, there's another one besides the backstab. The front flip is pretty damn powerful too. And I've seen people pulling/pushing/kicking then doing the front flip, which makes it rather hard to block.
I dunno. The game's just getting old for me, I guess. Which is good, because I'm not gonna have DSL for the next three months, so it'll be me and the bots. At least they don't spam moves.