Heyla Slayer.
Your sword looks a bit better now. Sharper certainly.
First off, if you don't want to be stuck with using Paint for your textures, you could try
Gimp which is a free art package. It's fairly similar to Photoshop, but pretty much anything is better than Paint!
I thought I'd have a go at modelling your sword, I hope you don't mind. I think the thing that's putting people off your sword at the moment is the unusual hilt (the curved pointy handle bit). It's not the kind that people usually see.
So anyway - here are my untextured version, and wire.

I managed to get it down to 104 polygons.
Here's how I made it:
1 - Made a four sided cylinder to start the blade. I gave it two height segments so I'd be able to flare it out at the bottom of the blade.
2 - I centered this object to the world (just as habit) and grabbed and scaled the vertices to make it a wider, but thinner blade. Then I grabbed only the bottom-most vertices and made those even wider, so that it flares out.
3 - I selected the polygon at the top of the blade (because it's not pointy yet) and extruded it up a bit. Then I deleted that polygon (so it looks like it has a hole in it) and scaled the four vertices down to a point. Then, I welded them together - we have a point!
4 - (Optional) I then selected all the faces on the blade, and clicked 'AutoSmooth' (in Max) - this doesn't add polygons, it just tweaks the shading on them to make them look rounder. This made the blade look too smooth, so I selected the polygons on the blade tip, and applied a different smoothing group - gave it a facetted look.
5 - Our blade is finished!
6 - I created a box at the base of the blade, fairly thin, but wide enough to protect the fingers of anyone holding the blade. I then grabbed the polygons on the ends of this box and extruded them out three times. It now looks like I have a very long, straight hilt.
7 - Grab the polygons on the hilt - all of them except the inner 8 (the ones of the original box). We move them all up, then deselect the ones closest to the blade, and move them down. Then we deselect the ones next closest (so we only have the end ones) and move those down even more - scale them in a little, for that 'claw' look.
8 - With the same 'grabbing/deselecting' action - scale the vertices so that the hilt narrows as it gets to the points. Looks more refined

9 - The hilt is finished!
10 - Make another four sided cylinder for the handle - remember, it must be thin enough that the hilt would still protect the fingers.
11 - Make an eightsided sphere for the pommel (the round bit at the bottom).
12 - The handle is finished!
13 - Cleaning up. Delete the polygon on the bottom of the blade, and at the top and bottom of the handle-cylinder - as they'll never ever be seen.
All done. I did a little more adjusting of the smoothing groups on the hilt, but not much and it wasn't completely needed