What Tobi says PLUS there is more…
It’s not fully working yet (at least in the Alpha build) but position of your sword is actually (somewhat) important in a parry. I wouldn’t call it a directional blocking but if you copy enemy’s sword position, it’s easier for you to make a parry (timed block). It’s just a matter of physics: sword needs to travel shorter distance, hence more forgiving timing (once you press a parry too late, the distance actually matters, so if you are attacked from above and you have your sword down on your right side, you will not make a parry in time and get hit). Timing is still more important: if you press the block in perfect time, you will always parry, regardless your sword’s position (well… except it’s in the scabbard or in a liver of some other enemy), however having your sword closer to the attack means the timing is more forgiving (not that much, but still…).
As I’ve said: it’s not much working in the Alpha
There were some serious troubles around it, will be fixed in the next one (hopefully).
Of course “historical” part in the combo is only the final strike. The combo itself just provides a way how to “adjust” your opponent for this strike. Like slashing from the upper right will get him to a position when he is expecting the strike from lower left and you can come with an unexpected short-edged strike (just an example). Also, it’s a “gamy” way how to even initiate these techniques, what you need when you have just two mouse buttons… 
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. If you aren’t fit, they can really drain you - you wouldn’t think so, but just about every fight that lasts more than a minute and a half has me breathing hard
. Also, a fight doesn’t generally end when the person blocks the wrong way - once again, in my limited experience, it is really hard to block the wrong way in real life (i.e. block the wrong direction). Most of the time its because you miss the block, either a little too high, or a little too low, or you’re just a little too slow, or you don’t parry their sword properly and they can move it out of your parry. Blocking the wrong way generally only happens with inexperienced swordsmen who don’t know how to read their opponents movements - and i mean people who have never handled a sword, and even then, about an hour or so of instruction normally solves that problem.
. Most the of the complainers say what they don’t like and leave it at that. there’s no attempt made to understand what the dev team has to do, and what would be a feasible solution to whatever was bothering them. A prime example is the “not a fan of the combat” thread, which i know you’ve read. the first post from Mackwab is him complaining about locking, then complaining about blocking. no suggestions made. at. all. Granted, he is a backer, so not the best example.

