Well, I note that Morul is rather self-sufficient in combat in a way that few other dwarves are. His adamantine armor was mined by his own pick, extracted and smelted by his own hand. The masterwork weapons and armor were forged by him and carries his name. As such, I consider his gear to be every bit as much of him as his stats.
But in fairness to both Morul and Captain, there's something about each that simply cannot be captured by mere stats. To the best of my knowledge, no other dwarf has ever taken on 80 orcs (upgraded, no less) singlehandedly - and emerged without a scratch (not to mention doing it a dozen times). And Captain's unique feats neither need be recounted, nor will Morul ever match them.
And that is part of the challenge with pitting them against each other. There's a certain something about each that I'm not sure can be fully replicated in an artificial setting.
What's hilarious about this is that the "artificial setting" is actually the real setting. We're seeing what the actual Captain Ironblood character actually is, stripped of Captain Mayday's storytelling abilities. In Nist Akath, Ironblood is this demigod that does some mayorin' between bashing in skulls with cabinets, fighting hydras in the buff, smashing entire skelks together with his bare hands, and eating the occasional crumpet. Something creatures of legend fear and mere mortals hope to one day achieve. This fight can never truly be tested because the Ironblood that has been described can never actually be manifested in-game. Whatever his actual character is has been totally overwritten by Mayday's epic tale.
It's this sort of thing that makes the DF community amazing.
Fake Edit:Wow. I think I just kinda lost my point there, but you can see where I was going. Also, I meant no offense to any party involved in this post. I'm just trying to state a point.
Real Edit: That said, Bloodbeard did a pretty good job setting the fight up and applying the character where it needed to be, and definitely made a better fight than any of the 50 or so I did back in June.