Out on my homestead here in the rainforest of the Olympic Peninsula, I've chopped a lot of wood for a lot of years. Wood is my only heat. I've used a lot of axes. But to be honest, I've never found axe design to be as critical a factor in efficient wood splitting as the ability to read the wood itself. For splitting, I use almost nothing but a fat, heavy splitting axe. The finer cutting axes were more for cutting down trees. I use only a chainsaw for that and for making rounds.
The old timers here saw different wood than I see. They were splitting either old growth or young, straight-grained second growth that grew up in shade and had few low branches or knots.
Nonetheless, an 18-inch round of 100-year-old Doug fir -- maybe three feet across -- is no easy thing. Usually, I need wedges or a strategy of calving off slabs from the perimeter until the diameter gets small enough to deal with head on. If the wood grain has a twist, I'll have to puzzle over it for a while to get a strategy; otherwise I'll be banging on it for a long time to little result.
Alder is another animal. Unless the round has a large branch, it splits so easily that any axe is fine. I've never found any great difference in axe design for this wood. Light axes I have to swing a bit harder. Heavy axes I swing easily, letting the weight of the head do the work. Seems like the same work either way. Sharp, thin axes can bury themselves so deep in a twisted round that it often takes a wedge and a sledge to retrieve it.
Even here in logging country, I seldom hear of anyone using an axe to fell a tree. Chainsaws are the weapon of choice. And nobody would use an axe to make rounds. The waste is too great compared to a chainsaw. The people who sell firewood usually use splitters.
For making the morning fire, I use two small Gransfor Bruk hand axes -- a carpenter's model for the small, straight-grained wood splits and a splitting hand axe for the more challenging grain patterns. I always stack my firewood alongside the stove, divided into rounds that fit one or the other axe and rounds that are so grain complex that I just burn them as I find them.