I'm for the fast melee weapons, especially focusing on Muramasa as it can deal a really nice dps for its tier if you can properly compensate for its lack of knockback. One pearl which is usually underrated (or found way too late in the playthrough to be considered of any good use) is the Cutlass, which can output an incredible dps at an incredible speed, lacking only defense piercing and proper range. When it comes to judging what the all around most effective sword in the game is, doubt anything can beat the ease to use and dps of Terra Blade (which people seem to trash in favor of Horseman's Blade calling it an alla round better choice, for barelly a valid reason).