"
- Sword of Superman -
as presented in Superman Annual #10. One piece of primal matter formed in that creation somehow took the shape of a sword. That sword floated through space for eons and later came to be known by the strange symbol on its hilt, in millions of languages, on millions of planets, as the "Sword of Superman." The sword is the stuff of legend, resisting the efforts of all who try to capture it, as if sentient, as if waiting for the one being in the universe who is destined to hold it.
It came to pass that, in the course of a great battle for Truth and Justice, man and sword finally came together. For the first time the sword allowed itself to be grasped by the hand of a man. Holding it, Superman found himself expanding, spreading across the winds of the universe, the whole history of creation flooding his mind. His consciousness expanded, he was becoming an all-seeing, all knowing Protector. Then he let it go. "
Technically he did fuse with the sword. I mean all that was left was the hilt. Even if he never gained the full power of the sword, he should have at least some of it.
At the end of that pre crisis comic it say Supes was becoming omni-present with the sword (not in those scans). If that's the case that's very impressive, because I don't think you can ever be trully omnipotent (within whatever finite space) without being omni present within that space.
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Iboga chose not to fight, to allow himself to evolve. He had the wisdom to abandon the actions of war when he knew they would no longer serve him.
the dialogue was ambiguous at best. the notion that supes /w/ the sword was some sort of omnipotent being certainly isn't back by any on panel happenings -- that's all i'm saying.