Very interesting research data; provides some real, factual basis to discussion on combat mechanics and how to gear our dwarves out.
I'm really, really disappointed in bronze. There's a huge gap between iron and steel that bronze should fill, but simply doesn't. Toady should get on that.
Maces definitely seem worse than hammers straight out. I don't see what benefit a mace would have over a hammer in this data.
With regards to hammer materials, they're all pretty equal, but I'd give a slight edge to steel. Steel seems to have a slightly higher rate of red wounds across the board. All materials of hammers are equally ridiculous against all armor, however. It doesn't matter what you're wearing; if you're facing a hammer, you're in deep shit unless you have good shield skill. This really shouldn't be.
Spears are surprising; I didn't see that one coming. It seems that spears only need to be one 'step' higher than the opponent's armor to be effective, whereas swords and axes require two 'steps' (iron -> steel counts as two because bronze should be in the middle). An iron spear happily dominates copper armor, whereas an iron axe will struggle. Steel spears, however, are outclassed by steel axes and steel swords, although not by a ton. Mix this in with the fact that spears are very effective against large forgotten/mega beasts and I think I'll have to use these a bit more often.
I have to wonder if these tests could be replicated with crossbow bolts. There's a lot of confusion as to which material to make bolts out of at the moment. It's probably an order of magnitude more complex than these tests, but it would help a ton if you could figure out a way to test it.
All things said and done, the only big change I'm planning on making is I'll be kitting my soldiers out with iron before steel instead of bronze before steel. Axes and swords are still ridiculously effective when made out of steel (or, god forbid, adamantine) and used against iron and copper clad goblins (or bronze clad humans, which turns out are actually more poorly protected). Really and truly unless you're playing a mod that adds a steel clad sieging race there isn't any need to use any other weapon. All this diversity is pretty much moot because the qualifications to turn axes into god-mode weapons are so easy to achieve (two steps above the opponent's armor material).