Some interesting ideas here, i've got nothing ground breaking to add really, just my 2 cents...
1. The "weight" of the sword is real (IMO), but something that the wielder must accustom one self to. Hence when Rake takes Hood, he also takes Hoods armies of dead and it brings him (understanderbly) to his knees for a while as he adjusts once more to a burden that only a few could withstand. Once he gets his strength, both mental and physical, to bear on it, the pressure eases up. Its been implied since the start that only a god or ascendant could handle dragnipure, but it wouldn't make sense for Draconis to forge a weapon that would ultimtely slow him down; one has to have the strength of will to use it. Its a burden, but a weapon of immense power too.
2. I want to know what Cottilion said to Trav when they met on the way into the city. I think he must have told Trav where Hood was, hence his shoulders slumping and the knowledge that Rake wouldn't give up the sword willingly. He knew he'd have to kill Rake, Rake knew he had to die by Dragnipur to fulfill his plan, and Trav wanted the sword to kill himself with it, and get at Hood. It was a stalemate, and one he couldn't deal with: he liked Rake.
Maybe Cotitlion told him that Rake was defending Hood and that he'd have to get through him to get to Hood...??
3. I reckon Hood, and the others left after the battle with chaos are back in the world.
4. I'm not sure who would've won a straight fight, but I think Trav and Rake were about equal in terms of skills: ie I dont think Rake could necessarily cut him down at will. He was first sword for hood after all, and an ascendant (?) or had been in the past.
5. Brood picked up the sword easily because by that time it was empty of souls. Plus the dude carries a hammer that broke the wrists of a normal person (MOI), meaning he had Rakes strength if not more.
6. Hoods body need not have disapeared; a decapitated Jhagut doesn't necessarily mean its hood, although I think he knew Hood was in the sword by this point, so it would be what he'd be expecting to see.....
Mostly I just felt really sorry for Trav, and awed by Rake
