Experiencing the sheer insanity of Endless Mode firsthand, I think there needs to be some sort of shield (or other protective item), seeing as your sword can currently block one hit, while the other ten slice you into ribbons.
What I'm thinking is an energy-tower shield mounted on your left arm, which you can hold a key down (let's say CTRL) to raise, blocking all hits in an X-degree arc in front of you. To add balance, you could have it drain energy per-hit or over time, disappearing when you run out (obviously).
As previously mentioned, I think we need this, or something like this, to get anywhere. Otherwise, I have no idea how to cope with being overrun by five Mark II Jetpack Bots, while being shot at (both with arrows and spider bombs).