Something many people (including me) cannot take advantage of due to server lag.
If you are talking about not being able to use N+smash, fair the benefit is lessened. However, the smash still charges faster making stuff like smashmilling more feasable. I personally play from EU so my ping isn't NA level either, but with my giant doing anything with smash is just smoother because of the loading decrease (I personally can't N+smash due to latency as well) and still speeds up gameplay overall. Also, considering the loadtime difference in smash doesn't benefit you due to such high latency, loss of ranged should for you personally not be a big downside since range is heavily reliant on ping.
Final Hit is more than usable in HM/elite. I've played these levels as a human and final hit speeds up shadow missions immensely.
Well if you actually think it's useful in the current generation, that's just something we differ in opinions on. I don't think it's a very useful skill for higher content, especially due to the high cooldown. When our guild runs our elites/peaca int runs and whatnot, I'm pretty sure the amount of times FH is used it countable by one hand.
As for everything else, it'd be easier to do the numbers for it to show. If the way I use balance is wrong please post how you should correctly use it. I didn't bother with ego's because as far as I'm concerned 1 ego weapon shouldn't be the only thing the entire race is good for. I understand how good iron mace ego is but I'd prefer to see numbers before I concede that that alone is enough. That's really it, if the numbers are better please do show them.
Well, any setup that doesn't use 0.8 modifier for balance is basically a non realistic one, since one would work towards a gearset + skillset that supports 80 balance. Also, egos define a race majorly. The hooked cutlass is BROKEN for its insane crit and one of the highest damage one handed weapons (for humans atleast), and the iron mace is broken for its insane damage for giant dual wield.
I'm going to try and do some calculations using mostly the values you have given before, but adding in different weapons etc. and considering some enchants.
Theres a TL;DR at the end.
So for dual wield setup, human and giant with cutlass and iron mace, all stats level 40 besides int and dex since most people disregard those (I didn't opt for 50 in the other stats since reaching 50 in all stats is unrealistic amount of time, only about a month ago did one of our players reach lvl 50 in strength).
Cutlass 90-152
Mace 23-201 and 40 balance
The giant uses swarming on accessories x2, swarming on gloves and a shard suit for extra balance. The human doesn't need this and can use peaceful on gloves for 15str instead of 4 max/min, max roll white horse for 2 extra max, and 2x earthquake for 15 str instead of 4max 4min. The str enchants in total give 6 more max than the giant, giving the human 8 more max in total due to the giant using balance enchants which can be added to the humans base damage.
Cutlass + battlesword
152 + 54 + 146 (removed 30 max from your double artisan calculation due to -75 str cus missing out on 1 artisan) + 64 + 8 (because enchants) = 424 max
90 + 36 + 124 + 34 = 284 min
Iron mace + warhammer
201 + 84 + 132 + 86 = 503 max
23 + 0 + 110 + 13 = 146 min
Balance
I'm actually personally not sure how balance works with dual wielding. I am assuming that you add both weapons balance and then divide by 2 for the total balance from weapons gained. If both weapons their balance value is added without dividing it, it would boost the giant to 80 balance easy even without enchants.
the 30 base + 20 ((40+0)/2 due to dual wielding) +15 from CM + 14 from enchants resulting in 79 for the giant
Human can reach 80 balance easy
for giant: ([503 - 146].79)+146 = 428
for human: ([424 - 284].0.8)+284 = 396
With this setup however, it is much easier for the human to reach the required amount of crit to be able to dual wield smash than the giant. For the giant to reach a satisfactory amount of crit, having restored would almost be a must (which is quite hard to get) and to use a vine/blunt helmet whereas the human could for example use oblivion on the hat slot for 10 more max damage and -3 crit. But for windmilling purposes (which is a large part of mabinogi melee) the giant is favored (albeit not by a huge margin).
However, when we touch on the subject of smashing, a 2h weapon gets a 600% modifier instead of a 500% modifier, making a two handed weapon quite useful to smash with (or is it?). So now we are going to calculate for using a 2h weapon. We will be using a highlander claymore with untamed alligator, and the giant will be using a salt alteration cooking pot. For the actual weapon, I will be referring to a HLC I made myself, which gives +36 str (20 from enchant, 16 from artisan), which is +14 max and +10 min, has 22-94 damage reach, 45 crit (due to artisan +66 luck) and +45 max damage from enchants. In total, the damage reach with arti/enchants is 32-153.
The weapon:
(sidenote, at this point I actually went to check the dmg bonus from CM and SM, since there is a difference between them for giant/human and I noticed your calculation for the CM/SM bonus is off since human gets 18 max 8 min and giant gets 20 max 10 min from CM and sword mastery gives 20 max 10 min according to 2011 wiki, meaning that in your calculation for dual wield, the number should be 58/76 (first number if CM applies once, 2nd if twice, I'm not sure) max and 28/36 min (same as before) and for blunt it should be 80/100 (same as before, dunno if CM applies twice) max and 10/20 min. Since I took your numbers for my calculations as well, they are a bit off too, but I can't be bothered to change it all at this point since I'm not sure even if it applies once or twice).
Human
153+120 (300 str) + 38 = 311 max
31 + 90 + 18 = 139 min
giant
153 + 132 (330 str) + 40 + 15 (salt + alteration str bonus on shield slot) = 340 max
31+ 99 + 20 + 11 (salt+alteration) = 161 min
balance
weapon has 10, if both human and giant have 30 base balance, and get 15+15 from SM/CM, they'd both have 70 balance. However, lets assume they both compensate the lack of 10 balance through the same balance enchants on other equipment slots, resulting in 80 balance for both
human
([311-139].0.8)+139=276.6
Giant
([340-161].0.8)+161=304.2
So giants can wear 2h weapon and benefit from the 100% extra smash damage better than human. However, when we compare the 304 damage giant has with the claymore, to the 428 he has when dual wielding, that doesn't matter at all since dual wield would be 2140 damage and 2h weapon would be 1824 damage. So the advantage that giant has in terms of smashing with 2h weapon is neglected by the sheer overpoweredness of dual wielding. Of course, this is assuming I did everything correct myself which I'm not completely sure of. And the numbers used for CM/SM and CM/BM bonuses are wrong as I said before for the dual wield calculations, however the differences shouldn't be too huge (as far as I can see, like 6-10 dmg difference).
Honestly this was a learning experience for me, since I didn't realise using a two handed weapon was actually that bad, and when considering that, although humans have less damage when dual wielding, their huge amount of crit gained by using a hooked cutlass ego makes them much better for crit smashing. Before this I was of the opinion that because a giant could dual wield for insane dmg on windmills and switch to 2h for critsmashes whenever he wants/needs to, that giant had an edge in melee combat overall. But now, it looks to me like giant is only better at windmilling spamming (which still happens a lot in mabi because a large part of mabi is grinding stuff with aoe), but for harder content smash starts to matter more and more, where human is apparently better at.
TL;DR: I might be bad at math, insecure about whether I even did all calculations correct. In the end, seems like 2h weapons are absolute garbage compared to dual wield, making giants only marginally better at windmilling and worse at smashing (unless you compensate for the lack of crit hard with crit enchants, lowering giant his damage). I still think being able to charge without shield when dual wielding is very nice, and the decreased smash time is quite nice, but overall giant does seem to have some incredibly horrible downsides with no good returns for it.