Not for anything in particular, just playing around.
I think it's a toss up which is better, assuming you're an Orc and therefore big enough to 1H wield the chainaxe. The dwarven-style upgraded axe has a solid chance to penetrate same-material armor with every swing, but the chainaxe when it gets through armor very well might cut a fool in half.
(Dwarven) Superior mithril battle axe
Composition: Mithril (Silver, steel), Steel
Workflow: Smelter, Metalurgist, Forge, Weaponry
[ITEM_WEAPON:ITEM_WEAPON_AXE_BATTLE_UPGRADE_ONE]
[NAME:battle axe:battle axes]
[ADJECTIVE:superior]
[SIZE:1200]
[SKILL:AXE]
[TWO_HANDED:47500]
[MINIMUM_SIZE:42500]
[MATERIAL_SIZE:9]YES
[ATTACK:EDGE:40000:6000:hack:hacks:NO_SUB:2500]
[ATTACK:BLUNT:40000:6000:slap:slaps:flat:2500]
[ATTACK:BLUNT:100:1000:strike:strikes:pommel:2000]
[ATTACK:EDGE:5000:5000:lacerate:lacerates:blade:2500]
[ATTACK:EDGE:40000:12000:relentlessly hew:relentlessly hews:full force:3000]
[ATTACK:EDGE:40000:6000:emphatically slice:emphatically slices:honed axeblade:1800]
[ATTACK:EDGE:50000:10000:make an undercut swing at:makes an undercut swing at:power:3000]
[ATTACK:EDGE:50000:10000:make a backhanded strike at:makes a backhanded strike at:NO_SUB:3000]
(Orcish) Ebonglass chain-axe
Composition: Ebony glass (Obsidian, gold dust, cobalt dust, sand, pearlash), automaton part (mechanism, soulgem), oil, razorwire
Workflow: Glassworks, Forge, tinkerer, totempole, farmer/chemist, steamfoundry
[ITEM_WEAPON:ITEM_WEAPON_CHAINAXE]
[NAME:chainaxe:chainaxes]
[SIZE:1200]
[SKILL:AXE]
[TWO_HANDED:70000] quite heavier than regular jagged axe
[MINIMUM_SIZE:50000]
[MATERIAL_SIZE:9]
[ATTACK:EDGE:40000:6000:hack:hacks:bladed edge:1250] normal like regular jagged axe
[ATTACK:EDGE:50000:2000:rake:rakes:toothed edge:1250]
[ATTACK:EDGE:40000:12000:relentlessly hew:relentlessly hews:full force:2000]
[ATTACK:EDGE:60000:6000:hack and rip:hacks and rips:steampowered blade:1875] 50% more surface area and leverage on these attacks
[ATTACK:EDGE:75000:2000:rake and rip:rakes and rips:steampowered teeth:1875]
[ATTACK:EDGE:60000:12000:relentlessly hew:relentlessly hews:power assisted overhand swing:5000] special critical
[ATTACK:EDGE:60000:12000:assault:assaults:power assisted uppercut:3000] special moderate
[ATTACK:BLUNT:250:4000:strike:strikes:pommel:1000]
In regular play in fort mode i'd give the edge by far to the chainaxe because there are plenty of un- or poorly-armored targets and the hack/raking attacks will still be fine. Here in the gladiator arena where first blood against a well armored foe is key, I'd probably take the superior battleaxe.
-------------------------------------
Of course this is the winner hands down ....
(Dwarven) Legendary mithril battle axe
Composition: Mithril (Silver, steel), Steel, Luck
Workflow: ~6 x (Smelter, Metalurgist, Forge, Weaponry). Or get a bloodsteel one by Slaughterhousing a minotaur.
[ITEM_WEAPON:ITEM_WEAPON_AXE_BATTLE_UPGRADE_TWO]
[NAME:battle axe:battle axes]
[ADJECTIVE:legendary]
[SIZE:1200]
[SKILL:AXE]
[TWO_HANDED:47500]
[MINIMUM_SIZE:42500]
[MATERIAL_SIZE:9]YES
[ATTACK:EDGE:40000:6000:hack:hacks:NO_SUB:2500]
[ATTACK:BLUNT:40000:6000:slap:slaps:flat:2500]
[ATTACK:BLUNT:100:1000:strike:strikes:pommel:2000]
[ATTACK:EDGE:5000:5000:lacerate:lacerates:blade:2500]
[ATTACK:EDGE:40000:12000:relentlessly hew:relentlessly hews:full force:3000]
[ATTACK:EDGE:40000:6000:emphatically slice:emphatically slices:honed axeblade:1800]
[ATTACK:EDGE:50000:10000:make an undercut swing at:makes an undercut swing at:power:3000]
[ATTACK:EDGE:50000:10000:make a backhanded strike at:makes a backhanded strike at:NO_SUB:3000]
[ATTACK:EDGE:90000:900000:strike:strikes:bloodthirst of khorne:15000]
[ATTACK:EDGE:90000:900000:hit:hits:want for blood:15000]
Yikes ^^