I like the basic design, but the sword seems a little too heavy for that small handle.
The lighting is really not bad IMO, but it could use some more depth. The reflections on the blade are unrealistic and the handle is kind of flat. I suggest giving it deeper shadows and maybe a dark outline.
Of course that's if you want a more realistic style.
More on lighting metal cylinders:
http://www.simmerspaintshop.com/foru...-cylinder.html