From what I have seen with the combat, I am very much into it, but I think that they need to take another step and add gore in. It is something that was always needed in the Mount & Blade franchise, and if they don't add it, it will still be awesome, but, it will be really lacking. Even if they put as an option in the campaign menu, to turn it on and off at will, will be good for me.
I think it would be good to have the option too, though it should definitely be optional for those who prefer it without.
When I helped to do the original voices for M&B Warband; Armagan didn't end up using the more violent screams I did (which I later released as Official voice pack), as he wanted to keep the product friendly for all ages I believe. If they pursue a similar line with M&B2 I doubt they will include much more gore than blood splatter, but I expect M&B2 will likely be mod friendly so hopefully there might be some opportunities there.