Second one is a lot better, the grip still looks a bit longish. I think it´d probably be easiest to start with some reference pics, as well as trying to get an idea what the sword is going to be for (I don´t mean "a game", but more along the lines of where is this sword, who is using it, what times are we talking about, etc..).

a few refs:

www.lutel.cz
www.kkart.cz

Yep, that's definitely much better :) Glad to see you listened to some of the remarks we made.
Now, what about trying your hand at texturing ? You could do a nice texture around the hilt or something ? :)

nice