Well, first off, let me say that I'm rather surprised that this game has yet to receive a topic on this particular forum. In fact, the combat system, as described for LiF, seems to share a few similarities with that of M&B. As some of you may know M&B is a medieval combat simulator produced by Taleworlds Entertainment, and published by Paradox. It is by far the most accurate simulation of combat in the era, despite it having it's fair share of flaws. I am of course not going to give an in-depth description that will no doubt bore plenty of people out of their mind, but rather I'll drop a link:
http://www.taleworlds.com/
The game is rather cheap considering it's enjoy-ability, and is a great competitive multiplayer experience. There is certainly no shortage of tournaments. I know, from what I've heard that many Darkfall players are likely to find it enjoyable (One of the prominent NA-WB clans, the Black Shields, has actually come over from Darkfall). Anyways, I'd suggest at least trying the demo out.
The Taleworld's forums are a great place to hang out, with an excellent, (most of the time) mature community. In fact, the Taleworld's forums are what let me to this game. It's been all but officially announced that a sequel to M&B is currently under way, and expectations are high.