The trade offs from many producers are the blade stock thickness and distal taper, historical aesthetics, attention to fit and finish, mystery metals cast for fittings, on and on. It is not just Windlass that shares these trade offs in cost of production. It is even more apparent when looking at all the katana coming out of China. They may appeal visually and may even to be nice inexpensive alternatives. There is a a lot more to cheap out on with those $100 katana that cost about $5 to produce.
That said, Hanwei has maintained an affordable price point for the gimme western stuff and would be considered the chief competitor at the low end. Darksword is making higher price packages that scream quality they really don't have. Go ahead and spend money on them if appealing but one will sell themselves short. As with Windlass, Darksword is more targeted to the cosplay sector of the market of "gee whiz, what a nice sword I have, it even has a scabbard with a belt". Ok. whatever. As with the katana crowd, few are going to bother with what really goes into a traditional katana build.
There is a daily deal on Museum Replicas today that is a sword with scabbard and belt. The Sword of Tancred. Half price but even their regular price half of a comparable Darksword package. Darksword would charge even more, as the Windlass sword has more hilt detail. Details Darksword is pretty lousy with (pressed wood "carving" on $800 swords, coarse casting, etc).
In the end, it is an entirely personal journey and one will either love a purchase or not.
I am more willing to buy a Hanwei product than Windlass but at the same time, one never knows what might come along that better suits my wants. In the end, a couple of hundred dollars to me means there are a lot of things I'd purchase before any production sword (books, groceries, general overhead etc).
My one new sword last year was a second hand Hanwei mortuary at a great price. For the same price, I could have bought another primo 1850s US militia sword but I already have seven or eight of them (its a bit like counting toes on a cat that has an odd number).
I have friends now clamoring to possibly have me part with both antique, Ams&Armor and Del Tin swords. Nobody wants the couple of Windlass swords I have left and that's great, I love them both. The Patton went off in trade last year.
The possibilities are endless.
GC