Balance notes for GM:
Edge is basically better than either of the others;
Kitchen Knife>Bone Club~=~Sharpened Stick; against armored opponents, Sharpened Stick and Kitchen Knife do identicaly damage, with Kitchen Knife better against unarmored opponents as well as giving a bonus to evade. Bone Club and Kitchen Knife might be more or less equal, if it wasn't for Kitchen Knife again giving a bonus to evade
Army Knife>Barbed Wire Club>Stone-tipped Spear; Same thing here, except Army Knife does more damage even against Armored opponents, and Barbed Wire Club does too(if more random damage), but Army Knife still gets bonus to evade!
Machete~=~Steel-tipped Spear>Heavy Steel Pipe; Machete does more damage to unarmored opponents, Steel-tipped Spear does more damage to armored opponents, and they even out at 1 point of armor. Heavy Steel Pipe, meanwhile, just does plain less damage than either of them.
Chainsaw Blade-Ax >=~ Fusion Drill ~=~ Sledgehammer; Chainsaw Blade-Ax does more damage against lightly or unarmored opponents, while Sledgehammer does about the same, but with an evade penalty. Fusion Drill has an evade penalty, while only doing slightly more damage against moderately or heavily armored enemies.
Conclusion: Edge is usually the keen choice, whilst Stab gets the shaft for the lower two and Blunt is beaten for the upper two. The closest it comes to balance really, is the two-handers, and still, the Chainsaw wins.
Armor and shields are meant to be automatically better than the ones below them, most of the time, so no real quarrel there(although the Army Combat suit being unequivocally better than either of those below it seperately is interesting)