I've been watching this for a few weeks and now catching repeats of it. Totally worth watching.
Basically they take two of the Deadlist Warrior and compare stats, including weapons and armor. Damage done by weapons against a human and then against armor are complied into a computer. They then sim the battle results 1000 times and declare a winner. When they do the testing they use a build-a-human which simulates damage to real skin, tissue and organs. While this is going on there are two different people for each warrior representing their fighting style, weapons armor and basically talking smack against the other warriors reps. Spike TV.
After the results they reenact what the scene would look like:
So far they had:
Episode 1: Apace Vs. Gladiator
Episode 2: Viking Vs. Samurai
Episode 3: Spartan Vs. Ninja
Episode 4: Pirate Vs. Knight
I haven't seen the results in episode 4 but so far it's pretty solid
http://en.wikipedia.org/wiki/Deadliest_Warrior
Looking forward to next weeks episode: A 1920's-ish NY Mafioso against a Yakuza.