My youngest sister HATES the classic/Filmation sword. HATES, HATES, HATES it. To her, it's too small and too plain to cut it as a superhero's signature weapon. The 2002 sword, on the other hand, she loves. Not only does she love the funkier, teched-out design, but the larger size of it is the clincher. In her eyes, that's the kind of weapon you expect a guy like He-Man to be packing. She pretty much turns up her nose at my Classics He-Man and my Classic Colors staction, but the 2002 figure and mini-bust? For her, THAT's what He-Man's supposed to be.
As to whether or not there should be a replica of the sword as it was in the Filmation series...well, I have to side with those who think it's a pointless endeavor. The Filmation sword is just a simplified version of the original toy's blade, and there's not nearly enough difference between them to justify doing it. And between the Classics figure and my Classic Colors staction, I've got my jones for the classic sword satisfied. I'd sooner see a toy version of the Alcala Power Sword -- which does look significantly different from the traditional sword -- done.