Originally posted by Veseljko:

I think only Parry Bonus from item you are using for parrying applies. I have read a lot on this topic and i never found anything that would explain Parry Bonus when carrying shield and weapon. But it seems logical to me that only Parry Bonus from shield is applied since you use a shield to parry.

Yeah, I not found anything either. My playing with the Blackmetal Knife tells me it doesn't work. I should next time, write down damage numbers

Originally posted by Veseljko:

And yes, it doesn't make much sense to parry with knife when you have a shield, but not all players are using shields.

I wanted to type that it makes no sense to parry with a weapon when you have a shield with you, then I found out something else. Apparently weapons do have a Block armor which is the same as shields have it. When you use the item to Block then it will negate a certain amount of damage. However I just read there is something called Parry block armor... which makes sense.
Those new Flesh Rippers seemingly only have Block Armor 5 - 7.5, but when I parry with them I take no damage. This is because they have Parry block armor 30 - 45 meaning the Block armor is higher when parry.

The Blackmetal Knife btw has Parry block armor of 8 - 12... so not useful. While some weapons now make sense to parry with... the Knife which has a x4 multiplier doesn't.... that is unless you like tanking hits.

Originally posted by Veseljko:

I have seen a lot of my friends not use shields in fights (i know they have it). I must admit I don't understand that because it's intuitive for me to use a weapon and a shield together. I can only guess it's difficult for them to press two hotkeys in the middle of the fight when switching from 2h weapon to 1h weapon.

I use a Logitech G600, that MMO mouse with 12 buttons on the thumb-side. I also have a 3rd mouse button(which I use as 2nd middle mouse button)... so I never had a issue. I would actually love it if you had 9 or 12 hotkeys to put stuff on... not just 8.

But yeah... what would be cool is if you could pull the shield onto a slot that already has a 1h weapon. And then every time you push that button you pull weapon and shield out.
@Nefrarya
What I just wrote would help you to, if you could setup "sets" of items. But I have to say... while the combat is ok on a controller... I would not play Valheim using one. Too awkward.