I disagree.
I stopped playing both Chivalry and, to a lesser extent, Mordhau due to the ridiculous, super-human, lightning fast spikes in angular acceleration of the player body, footwork, and weapon that can be achieved with really un-natural movements (such has looking down at the ground, and then swinging an overhead accel with full damage). Over a network, these spikes make combat un-fun since they aren't perceptible due the lack of the full sensory feedback in a real fight. We only have a keyboard and mouse to work with.
This baked in delay may not achieve 100% realism, but it prevents the overall feeling and look of a fight from being so arcade-y. The devs put a lot of thought and intention into this and I see exactly why. I don't want a Chivalry clone. Devs, please don't fall for the cries to return to arcade combat.
Maybe, all that is needed is to tweak the sensitivity of the block/swing direction so that it doesn't require such an exaggerated movement to block a certain direction.