I agree with you for the most part, but I think a strict reading of the entry says that without EWP, you can't wield it at all with one-handed (assuming it is correctly sized). Notice the text says:
A bastard sword is about 4 feet in length, making it too large to use in one hand without special training; thus, it is an exotic weapon.
Notice it doesn't say, to use "effectively" in one hand. Just use at all.
OMG! How many people out there have use the description, intended for flavor purposes only, as the wording for the rules...
Notice how the description says nothing about it needing to be correctly sized, or about the special rule for using it in two hands as a martial weapon, or indeed anything about the rules for the weapon.
It Is Just Descriptive Flavor!
Well, everyone and their mother takes heirloom weapon, even if they don't need the proficiency... so the feat is unnecessary in PFS.
As to fullblade, it is not PF and never should be... +2 damage for no penalty is a fighter exclusive. But -2 or even -1 and it becomes a bad tradeoff, so maybe it should be OK.
As I am usually the only fighter to grace a single group, I have often had to make my fighters unique. Most of my experience is with 3.5 but I'm getting used to Pathfinder. The Nodachi is your best bet unless you can convince the DM to allow D&D equipment (it's in your favor if you're just grabbing equipment to make an exotic fighter). I was allowed the use of a fullblade, however I might have accidentally exaggerated its proportions but all I incurred was a DM assigned -2 atk penalty when fighter in small enclosed spaces.
As nice as a bastard sword is, the Nodachi from the Pathfinder Ultimate Equipment guide seems like a better trade off. It's basically the same as a bastard sword however it's always two-handed and oddly does not fall under the "Exotic Weapons" category of the Ultimate Equipment guide. So instead one could go for monkey grip and wield oversized weapon, or equivalent feats and wield an upscaled Nodachi which would be as a bastard sword, but with the added merit of brace, choice of piercing or slashing, and a larger crit threat range (bastard sword: 19-20. Nodachi: 18-20).
Two year necro?
All the rules about this have been answered.
Let it die.
Sorry... I just felt compelled to post :/