I'm not sure what the game designers thought there, but it's definitely not as well-balanced as other, less polished games. And if you don't use a fighter race in the beginning, you can also leave swords and clubs aside - poisons do fine unless you like to face undeads more often than other enemy types. And even this can be solved by simply using enchanted weapons and a manual soul trap spell or a soul trap enchantment on the weapon. At a specific point in the game you can get a real tank this way. Almost indestructable and with so heavy damage than no enemy will be able to kill you. It makes me a bit sad that I'm realizing this after I played an archer/thief/mage combination with lots of points put into light armor and sword skills. It was totally useless in the end, It would've been better without those wasted points, you will just no them.
However, I'm tired. Let's finish for now.