The sword looks good, really good. I dunno if people will use the shield since it replaces the sticky launcher.
I'm not sure the sword is all that useful without the targe. No criticals and you are hurt every time you damage somebody else. The benefit is you like have some range over the bottle and you receive a slight buff if you are able to kill somebody (which seems really difficult without the targe).
Anyway, since the sword was included, I think it's a pretty safe bet that Soldier's new melee weapon is going to be a pickaxe. No idea about his other weapons, though.
Also, if you read the latest comic about the demoman you can see half of the name of the last unlockable. "Scottish Resistance"?