There's a lot to consider when thinking about balance, and it's not just focused around the weapons. Often it's up to the character using the weapons which determines a lot of the statistics in the end (such as Sophitia vs Cassandra who both are sword/shield users).
Anyway, you've got:
...but also consider:
- Horizontal Coverage
- Vertical Coverage
- Normal Hit Properties
- Counter Hit Properties
- Recovery Time
- Throw Shifts
- Stances
- Stagger
- Guard Crush
- The Wielder of the weapon (back to the Sophie vs Cassie thing)
- ...probably more
Good frame advantage on common attacks
Pushback
Movement. Backdashes, lunges, sidestep attacks, etc.
aGIs like Amy or Kilik's Asura Thing
Fighting games are far more complex than your typical RPG in which that original triangle would fit. I'm playing Skyrim right now, in fact, and outside of not having a fast, weak, long range Spear type, that's basically how that works... but even there, there's stagger power to consider.
Is a fast, powerful, long-range character overpowered if everything they do is launch punishable on hit and has no pushback?
Is a fast, powerful, short-range character balanced if they have no ability to approach the opponent and their attacks push the enemy so far away they can't maintain pressure?
Oh, also, forcing an entire character to fit a particular mould like this makes for inflexible characters that are easily exploited. Characters tend to have attacks with a wide variety of ranges and speeds... its what they excel at that defines them.