Dakka Dakka, you can only get the full +3 DV for unarmed. Blades get only +2 DV and Clubs only get +1 DV in total. This, btw, is a fact that i really do not like. While the entire Martial Arts section doesn't seem thought through at all, this just seems totally random.
Dolanar, no one uses Improved Physical Attribute for a reason, which makes that part of the characters kind of a moot point, but nevermind
Also, for the sword fighter i only get to 25 dice, if I'm not mistaken: 5 agi + 2 imp agi + 6 skill + 3 imp skill + 2 spec + 2 range + 4 focus + 1 grip (correct me if I'm wrong)
Basically, we can leave out everything that both characters can get, like strength and skill and counterstrike. In the end, what remains to be compared is this (after some work, money and karma in game; i don't want to adress the investment needed in detail here):
Unarmed:
* half / total armor negation via elemental strike
* -3 AP via penetrating strike
* +3 DV from martial arts
* an UNCAPPED bonus to DV through critical strike, starting at 6 and only getting better from there
* with distance strike, defender only get to roll reaction instead of reaction + skill (this is what the power is there for, not the actual distance)
* ability to do subdual combat if needed
* no chance to ever be without a weapon
Sword (Clubs are strictly inferior for strength based damage and only useful for stun batons):
* -2 AP from weapon
* +2 DV from martial arts
* +4 DV from weapon
* +6 dice from weapon focus (are foci capped at 6? i think so. or are their "military grade" foci available at higher levels? I'm not sure right now.)
* +2 dice from reach
* +1 dice from personalized grip
* with two-weapon fighting, the ability to go on full defense while still attacking with the other hand (if used, you can only wield a one handed weapon, which means one less DV and Ap)
* need to carry around a highly valuable, distinctive and sought after sword at all times
I think those are all the major differences between the two builds, but feel free to add any if I forgot something.
If we compare those, it becomes clear that in terms of raw DV and AP unarmed is the clear and undisputed winner. (Especially the uncapped critical strike is a problem here, I would strongly suggest capping it at 3, that would make it WAY more even, and would be in line with other powers like kinesics and enhanced throwing power). The Sword wielder on the other hand will always have 9 more dice available through reach, grip and foci bonus. In terms of 'special abilities', it turns out that unarmed is more of an offensive ability with distance strike while armed is more useful for defense through two-weapon fighting.
What strikes the eye is that the sword adept basically doesn't use any adept powers. That makes sense, because there are ARE no melee-weapon centered powers in the books at all. The only reason he has a magic attribute is the ability to use a weapon focus, aside from that he could be nearly mundane. An effective Magic attribute of 1 is totally enough for him (with that he would get improved ability (blades) at level 2, the only two dice he cannot get the with ware and needs to be on the same level the unarmed adept is; the last skill point would be obtained through reflex recorder (blades)). So the sword adept could be built using mainly ware, and thus is restricted by nuyen, while the unarmed adept is dependent on karma. It's also generally cheaper to go the sword route in terms of ressources, you mainly need your weapon, 2 martial arts, one maneuver and that's it.
What you make of this is of course yours to decide. I personally think that without two-weapon fighting the sword way would be strictly inferior to unarmed. And it is debatable if one little feat costing 4 Karma should have such a dramatic, major influence on the mechanics of the game.