Is there an easy way of knowing how much damage you're doing with Bound Swiord vs. real swords other than one 'feels' more powerful??

Bound swords are comparible to steel weapons to start with, and with mystic binding the damage increases to be comparible with daedric weapons. However, as soon as you upgrade a normal weapon at a grindstone its better then a bound one. That is a basic smithing of "fine" on a daedric sword will make it more powerful than a mystic bound sword.