So far haven't tried the charge blade due to it needing some monster fluid. Know where to get some, but yeah. It doesn't quite seem to be the king of weapons yet though. The lance still deals it's own special kind of damage where it checks the lower of impact and cut resistance, and I think elements on lances are moderately stronger. The Great Sword can hands down deal the most alpha with a strong full charge, which would pretty much take a huge chunk off a sleeping opponent's health. If you're on your own, the longsword still looks good so long as you're not up against a flyer, since I think keeping your tempo up means more DPS than most other weapons, plus it has a built in dodging attack for when you've gotten monster patterns down. Sword and shield gets item use with weapon out, as well as higher status an elemental, making it a pretty good support weapon that lets you exploit flash and sonic bombs faster (note to self, see if a sleep status sword and shield combos well with a great sword). I think just about the only thing that's lacking to me is the dual swords, but it seems to have strong early game potential at least.
Other than that, seeing people play Monster Hunter 4, they pretty much said they'd not play with someone using the charge blade due to collateral knockback. So yeah, might be good for solo, but I think being a multi-weapon master is best in the long run, as every weapon has drawbacks that you might want another weapon to fill, and causing friendly fire can be a big deal if you plan on playing multiplayer.
The lance may pick the best damage type, but the elemental discharges from the impact phial deals a sizable portion of your damage as true damage. The GS does not in fact have the highest alpha-strike, the CB does by a LOT when you have your shield/axe boosted and do an ultra super elemental attack with 5 phials, not only that but this attack will deal 500KO value instantly knocking out anything that isn't KO-immune so you can go and give it a second round of beating, the GS doesn't even compare to the brutality of the CB's fully charged super move and if you don't want the KO you can just take one with an elemental phial to deal ludicrous damage of the element they're weak to. I've played both offline and online with people and so far not a single thing survived a fully charged CB super move to the head while asleep, hell they have issues surviving it when they're limping before going to sleep. The LS has good dps with a good rotation, but if you have the axe in boosted mode and keep alternating between the X and A attack you'll find you'll tear the monster apart in no time flat. The LS may have those "dodgy" sideways/backwards moves but unless it changed in MH4U they don't actually have invincibility frames. The CB has attacks with blocking frames, the mode switches have blocking frames in them too, with the boost not only will you block as well as a lance, but doing so also causes a phial explosion to emanate from the shield for free, dealing damage and KO(or elemental damage) to the monster, potentially knocking it out(knocks out rathian in 5 charges/bites/fireballs into your shield), to make the whole offensive defense thing even sillier you can chain right into the CB's most powerful move(s) out of a block.
The SnS is superior for status effect and item usage though, not sure about elemental weakness exploitation since the elemental phials are kind of ludicrous.
Here's some random video of a guy dominating Teostra with a CB while simply tanking him to his face, he didn't even use the strongest form of the super move, the ultra burst(the lesser form he uses costs less to use and is more sustainable/keeps higher dps)
https://www.youtube.com/watch?v=uBZJaNePyc4 teostra is falling down and getting knocked down left and right.
MATH TIME!
The general weapon damage formula for physical damage is this: (weapon displayed power/weapon factor)*move value*hit effectiveness
GS factor 4.8
CB factor 3.6
GS down slash move value .48
gs full charge 1.15
CB down slash move value .47
CB burst 3 move(or super) .90 + 3 blasts, each blast is 0.10 raw as true unresisted damage, so 90 cutting and 30 true damage, already beats the GS
now lets get silly and check out the ultra burst
.25 + .99 + 1 + 5 blasts at 0.10 each as true damage and you get... 2.24 + .5 as true damage(oh and 500 KO damage, just to put this in context, Rathian's initial KO threshold is 150)
so
GS full charge 1.15(this is the number for the stronger charge variant too)
CB Ultra Burst 2.24 + 0.5 as true damage and WILL knock out the monster, letting you wail on him or set up a second ultra burst
These numbers don't mean too much though since we haven't applied the weapon factors or calculated a hit against a target yet. Lets get to that shall we?
lets compare the Cera Cymmetry GS and the Ceadus Regalia CB the top contenders for both categories, both have purple sharpness so we'll keep that out of the equation
Cera Cymmetry 1536 raw -20% affinity
Ceadus Regalia 1080 raw 310 water, impact phial
GS factor is 4.8 so 1536/4.8= 320 weapon power
CB factor is 3.6 so 1080/3.6= 300 weapon power
Lets be nice and give the GS an edge by completely dismissing its negative affinity which is a net average loss of 5% damage, so technically 304 weapon power, lets also go further by completely ignoring the fact that there is 310 water on the CB(I'm also lazy and don't want to get into elemental damage math)
so without the location hit effectiveness factor, our GS full charge and CB ultra burst look like this
GS full charge: 1.15*320 cut= 368 cutting damage
CB ultra burst: 2.24*300 cut + 0.5*300 true= 672 cutting damage and 150 true damage
definitely not looking good for the GS
Now lets pick some targets, magala's head is weak to cutting, has a 0.65 cutting damage effectiveness so it should help alleviate the true damage's effect
GS: 368*0.65= 239.2 damage dealt
CB: 672*0.65+150= 586.8 damage dealt
Now lets hit something hard, like magala's body which has only 0.25 cutting damage effectiveness
GS: 368*0.25= 92 damage dealt
CB: 672*0.25+150= 318 damage dealt
This without factoring the elemental damage and the fact that you just knocked out the monster for more free damage.
^
Spoiler, the GS doesn't even get close to the CB as an alpha-strike weapon
The numbers used are sourced from various pages on gaijinhunter's website and some nice MH4U database applications. Feel free to double-check the math as I'm currently rather sleep-deprived and caffeine-fueled.
Edit: typos everywhere