IIRC, they didn't give shamans the ability to use swords due to lore contradictions. However if you really think about it, there are several caster daggers out there and maces that shaman's can utilize. Enhance's weapon selection has always been crappy which is kind of retarded since one of our main damage sources now uses weapon damage as a multiplier (Windfury and FT).
I can only give my personal experience here but so far, since I came back to the game I've only noticed a small but steady increase in damage output with better gear. It's a gradual incline where as some other classes, casters mainly, jump quickly. Example, after getting ilvl 346 stacked I pulled around 12-13k on BH boss when we first attempted but that's just a rough estimate. Now my ilvl is 355 and my recent parse was 16kish. Small note though, there was a mage and 1h fury warrior both pulling 20k+ with the fury warrior peaking at nearly 30k but lost alot of it due to movement in fel flame phase.
I feel like we're lacking something. I'm not quite sure what it is yet.