I made the following chart based on the chart provided here
http://www.guildwarsguru.com/content...ies-id1275.php
Item Low Dmg High Dmg Refire rate Avg Dmg Avg Dmg/Sec
Sword 15.0 22.0 1.3 18.5 13.9
Axe 6.0 28.0 1.3 17.0 12.8
Hammer 19.0 35.0 1.8 27.0 15.4
Bow 15.0 28.0 Varies 21.5 #VALUE!
Wand 11.0 22.0 1.8 16.5 9.4
Staff 11.0 22.0 1.8 16.5 9.4
What you want to look at is average damage and average damage per second. In my opinion the average damage per second is the most important, but the information varies for a bow. So excluding bow, in my opinion it is a toss between a sword and a hammer. Here is why, sword has bleeding DoTs and hammer can interupt. However sword allows you to carry a shield of some variety. So you have to ask yourself does the 1.5 more damage per second and the interupt abilities that the hammer provides make up for the armor and the DoT that the sword provides. PvE I say it does not, PvP I do not have enough experience to judge but I understand interupts are crucial.
Edit: ack sorry i cant seem to put this in a chart format in the forum, I am gimp like that.