the piercing strike needs to be changed and, according to the rumors, special strikes will be modified (correct me if I got the rumor wrong).
A +1 bonus to wound cannot be given indiscriminately to every unit without some sort of drawback. Even lances have limits: they work on charges only and they are lost when the wielder is dismounted.
2 handed attack could be a special strike. in this way, one would not be able to use both 2 handed and piercing strike, to avoid very annoying and unbalanced results.
as for monsters, I understand your point. I think they need to be toned down simply because they seems to favor evil player more than good players (easy access to monster without the need to ally, cheaper monsters, FELL Beast...why is a full powered/named nazgul on fell beast cheaper than a wizard on a horse?).
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I would not say that the penalty is to harsh its just that no one likes to play the odds. I play elves quite a bit and I use elven blades are two-handed weapons when I have reasonable certainty that I can win without the die that gets the -1. Most people have just been conditioned by there experience to mistrust the -1 to a die because of how important they think winning the combat really is. Well that and being traumatized by shades. Where are people still think the possible negative from the piercing strike is negligible by making sure the can win anyway.
I put two elves with blades in each fighting warband to have someone to deal with D6 units.