Unfortunately i had a crash tonight during the "midgame" (bloodsteel/ashglass vs. mithril) round so i don't have a final result.
Ye gods, was it brutal. Mithril cuts bloodsteel pretty well, and dwarven-style superior edged weapons are likely to pentrate armor. The orcish ashglass/ebony arsenal can pierce through mithril too, often enough, but the large contact area "raking" attacks on the jagged weapons are often deflected and are a liability here. The best weapon loadouts from the early round (silver warhammers / orcish daikatana) are still OK, but they are nothing special here.
Ebony bodkins make the snaga a real force to reckon with, besides the Olog and the 2 dwarves with Legendary gear they are the squad with the best loadout for the task at hand in this round.
I think it seemed to be the blunt weapons (including crushing strikes from ebony axes) on both sides doing the most damage, but nevertheless there were enough piercing wounds, flying severed limbs, etc to confuse the issue. Fire magic clearly was a factor at least at the beginning as about ~1 orc in each arena was on fire very soon. There were quite a fair number of stunned (blue "X") dwarves but it is hard to tell whether from storm magic or bloodloss.
In fact there was too much blood, smoke and steam to see the field and get any clear estimate of winners or losers when the program hang happened.