Lumberjacking use to give a bonus damage to Halberds, Bardiche's & War Axes along with all the normal 2handed Axes, as of now i'm not sure if it still does or not.
The damage bonus isn't high enough to really notice much a benefit, it seems to be +1-2 damage hits (25-27)approximately to people in all 70s resist, with an ornate axe 100% damage inc, 120 tactics/anatomy & 150 str.
there is a proc chance to LJ to give you double damage bonus (30-60% not double weapon damage), but its hard to notice it go off and it's a low chance 10% i think...
Macing weapons still do break armor/shields faster than swords, archery, & fencing. its more than likely the fact Items have more durability now than they did back when you couldn't tell the exact amount it had, you used to only get an idea of how durable your item was, through Arms Lore skill.
2h melee weapons need re-balancing on base damage imo.