| Supposedly, but I'm not so sure. It seems to me (observation evidence only) that characters with small blades or fists do hit earlier in a round than warriors with huge halberds. If so, it's hidden in the game mechanics.
Whatever you do, do not take the Improved Initiative feat. It's "broken" and has no effect at all other than being a total waste of a feat.
The point of daggers and short swords ("small blade" feat) is that you can use the feat Weapon Finesse for low-to-medium Str characters. There's also some darn good weapons out there using this proficiency, such as the Brilliant Short Sword +5. In general though, high Str characters should use two-handed weapons for the damage bonus.
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When your back is against the wall... the other guy is in a whole lotta trouble.
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