How very strange. The halberd is a weapon devised specially to knock knights of their precious horses. And they do so excellently.
They may have been used for that in the real world cutting down cavalry and there pretty good at it on the game but like mentioned they are more prone to routing than most other units.

They are great against cavalry but cavalry flank very very quickly and halberdiers flee very easily, hence why you might aswell send them to fight feudal men at arms and those kind of troops, besides like ive said why send halberdiers who can cut though medium and light infantry with ease to do the job of spearmen class troops or braver troops when you dont have to?

In my experience, halberdiers dont have to lose very many men before they run, whereas im confident that if billmen are surrounded that they will either cut there way out or give as much damage as they take id expect halberdiers to lose heart and run for it. I am never confident using halberdiers, i always find myself keeping an eye on them. Whereas billmen i know theyll do there job and will only run if i make a mistake sending them against better troops etc.

I know halberdiers are peasant/militia class troops according to the game but what i dont understand though is WHY is their morale set so low? i know one thing if i was armed with a halberd in the medieval era id be more confident than some guy whos been given second rate swords and out of date armour, yet for some reason halberdiers lose heart faster.

It is a matter of style and tactics and stuff though, ive never doubted halberdiers advantages i just think the morale is to big a deal to overlook when i can have men who have better morale to do the same job, may not have the killing power of halberdiers but any heavy cavalry will have a hard time getting through italian infantry or rus spearmen etc. Freeing up my halberdiers to cut there infantry to pieces.

I cant believe i forgot about CFK never seen 40 men cause so much carnage, beautiful!