You mean for ingame? Or in Milkshape? Technically in Milkshape you can do that already... If you see a handle you like on a sword or what not, but like the blade of another just select it, hide it, delete everything else, save as a new image, open the other one do the same, then merge the two items together... Poof... there ya go... lol I already do that with the swords, I also have a template, blank sword that I use to make all the other swords, that way they are all pretty much the same amount of Vertices... The WHOD is prolly the largest Poly count I've done, I'm sure there's some in there that unneccessary, but there was ALOT of curves and diffrent faces.. Sometimes throwing more polys at it is easier... LOL
I'll add Axes, Polearms and such to the project Tracker, so you can see where I'm at with them... I haven't started anything yet other then this one hammer... And the 15 or so swords awaiting skins....