With the sword obviously Supes wins...it would be less certain if it were just a base powers fist fight. I'd give a slight edge to Supes (Odin's a god, but he's not immortal, nor is he indestructable), but Odin has messed some powerful people up in his day. The big loser of the fight would be whatever solar system they're fighting in.
The only time I've ever seen a "Sword of Heaven" mentioned is on this message board. I've heard of the "Sword of Superman," but I don't know if he has it. I always thought Superman Prime was just an overly sunbathed Superman.
It makes no mention of the sword, but it also doesn't mention the GL ring (which we actually know he has), so it could just be that the sword is rather obscure and hard to find a link to (I know, i tried)
Forgive me for speaking of something that I couldn't directly prove. Many of us (myself included) often refer to things which we have never directly read in a comic (there's only so much time in a day) but are accepted norms within comic book universes. For example, after browsing enough threads here on the board, one could confidently announce that Thing could hold his own with the Hulk though he might not win...without ever having read a FF or Hulk comic.
As I understood it, the Sword of Heaven (if that's what it is) was not a made-up item, but was something as tangible and provable as the Infinity Gauntlet or HOTU. I stand corrected, though not in the least bit ashamed. If the sword had the properties and powers attributed to it on more than just this thread (there have been many), then yes he would easily beat Odin. Without it, who knows. Power levels of that nature are hard to quantify accurately.