However, I've been playing Elder Scrolls: Skyrim and Kingdoms of Amular: Reckoning recently and I have to say that while there are still issues (just remember that they are fantasy games) I'm really pleased by the hammer play that appears in both.
Specifically, there are special moves where you use the queue of your hammer to set up your opponent so you can then smack them in the head.
As far as reality for the hammers, Skyrim does much better. Evidence:
Both of those are Iron Warhammers, other models in the game to have a top spike.
Here are the hammers from Reckoning:
Obviously reality (and physics) have less concern for the designers of Reckoning - but hey, it's a game!
I'm just happy that I get to schtup someone in the face before crushing their head ;-)