I have a couple buddies that duel a lot, or do 'naked races' (equip just a knife, see who can kill the first troll) kinda stuff. Make a small building with a flat top and punch/kick until someone gets knocked off, etc.. They also sail around naked until the find a serpent, then battle until someone gets knocked off, the winner sails away, loser gets eaten, haha.

The combat system is alright but lacks depth when it comes to PvP.