Well, I think you can't compare MTW VI to MTW2, mainly because the cav in VI never had such a strong charge (apart from the swipe exploit in early versions). This changes everything, the player attacking with his cav does not have to come up with smart maneuvering to position his cavalry, he can do a frontal charge and come through with it.
The defending player must find new ways to break or avoid that charge, be that by using terrain or cheap units to throw in against the charging cav, or to counter a cav charge with one of his own. The polearms, even if prepared, cannot resist even a frontal charge by cav, we could just employ them in such fashion in VI because taking such a head-on charge wasn't so costly to your unit.
What the polearms in MTW2 should be able to do is, as others already mentioned, holding their own once the melee starts and having a reasonable chance to pierce the knight's armour and drag them off their horses. If the unit size of polearms would be larger though, they might have a chance of defeating the cav even after taking a charge. Alas, it isn't and the point is moot.
Basically, I do like the greater charge impacts, however, they should not apply to light cav as they seem to do now. Polearms like Billmen and Halberdiers are offensive troops, i.e. to be used to do most of the killing, preferrably by flanking moves while, say, armoured sarges hold the enemy in place.
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