The main arguement for the power creep will be its AC and its at will area attack for a defender.
the AC is 2 (if including maxed out stat with 20int to start and demigod epic destiny stat increase) better than a fighter in plate with better reflex armor check penalty and movement speed.
As a normal hide fighter with maxed int or dex is 1 better AC at the moment and the swordmage for some unknown reason has an extra 1AC from their shield.
I too like many others have thought that the Greenflame burst attack thingie is vastly superior to cleave, but now playing a bit more I've seen many situations where it wouldn't have been so I think I'm okay with that, its still a must have power for the swordmage though.