In M2TW 1.0 a good charge may kill 90% of an enemy unit if you are using a cavalry and 30% if you use infantry. Too much IMO.

I would prefer more an effect of disruption, let's say killing a lower percentage (30-50% with optimal cavalry charge, 15-20% with infantry charge) of the unit, and anoher 20% "men thrown in the air" that can recover and stand up after a while, as elephants do in RTW.

I'm agree that spears shouldn't stop a charge completly, but once horses stop, spearmen must perform better than infantry armed with swords.

Let's wait and see how charges work in the new patch.