Nighteye

First off-This is MY KIND OF SWORD! XD
The design is gorgeous and in my eye, almost flawless. However, I do see a potential breaking point between the ring and the hilt. That part is somewhat thin, and unless reinforced, with enough pressure the blade and hilt could break apart. The blade looks far more heavy near the hilt, which could be useful defensively, although it doesn't really help you so much as hinder you when slashing, as you risk becoming off balance, which could open you up to the enemies attack. Also, the hilt itself, while being gorgeous and well designed, isn't very practical, and could hurt the wielders hands if they don't have some gloves.
If it were a little thinner, I would almost call this a kind of rapier, and it would be a good blade for stabbing and parrying. Also, near the base of the blade, there's a point where it dips in and merges with the ringed section, which would be a great spot to catch the opponents blade and force it away while stepping inside their guard for a final blow.
Overall, definitely one of the best swords I've seen so far.