I think we'll have some weapon skills (like whirlwind or weapon thrust) that are basically spells that can be assigned to mouse/hotkeys, but you will always be able to swing the weapon 360 degrees like that as well. I think it's annoying to have to move the camera to swing, which is why I was soo pleased when I first added the 'click to swing harder' mechanic. Depending on the weapon you can sometimes get them going 360 continually just by clicking at the right times.
Fiend, I like the idea of a lock on system like in dark souls that angles the camera to the target but allows free character rotation, maybe we'll find a control scheme that can fit that in.