I have a light armored Nord warrior that uses 2H right now, but I also enjoy the benefits of 1H as well; being able to use a shield and dual wielding.

Would it be a waste of perks and levels to start using both? I also use range too, so would this stunt my character you think?

I like 2 handed because it feels like you leave more of an impact. It's also more realistic to me in terms of killing Dragons. But it's your decision.

Leveling up one would make it more powerful than if you leveled up both though.

You could level up all 3 if you wanted, but you'd be leaving out other potentially rewarding perk trees. If it were me I'd stick with one for one character, and use the other for another character. This would extend the playtime since you'd have reason to start a new character. But that's just me

I've played a sword and board character before... Perhaps when Dawnguard comes around it will be a reason to come back to him.

The ability that comes with having a shield is just so tempting.

my main has both at 100, i just would do the armsman and whatever the +% perks are in twohanded. then whichever you use more put more perks into