[Varyon]

At ST 13, a Good quality Heavy Spear (LT69) would, assuming Form Mastery and Reach Mastery, give a +2 to Parry and have the following damage modes:
Reach 2,3 1d+4 (call it 2d) imp, eligible for Targeting Chinks (and Armor Gaps)
Reach 3 1d+3 (call it 2d-1) cut, as a tip slash
Reach 2,3 1d+2 cr, as a thrust with the butt
Reach 2,3 2d+1 cr, as a swing with the butt

By comparison, a Good quality Thrusting Broadsword (using a medium shield to make up for the Parry) is instead Reach 1 and either 2d cut or 1d+2 imp. Giving up defense when you attack allows for an axe, but you will be limited to one-handed weapons if you don't want to fall back on Dodging - an Axe is 2d+1 cut and a Mace is 2d+2 cr, for a slight offensive edge over the Heavy Spear, but at a steep defensive cost. As far as pricing goes, the Thrusting Broadsword is $600, the Heavy Spear is $90, and the Axe and Mace are each $50, assuming Good quality. Fine are instead $2400, $270, and $500, respectively, while Very Fine are $12000, $4500, and $2500, respectively.

Comparing it to other two-handed weapons, your primary contenders are probably the Thrusting Greatsword if you want to be able to Parry, the Dueling Halberd if you don't. The former is Reach 1,2 2d+2 cut or Reach 2 1d+3 imp, while the latter is Reach 1,2 all-around, 2d+3 cut, 2d+2 imp (with a stuck pick), and 1d+3 imp, with the last actually allowing for a Parry. Those have a decent edge over the spear, but the former is -2 to Parry (relative to the spear) and the latter means you're stuck with Dodging.

Finally, there is an important aspect to keep in mind for a Winged Elf, already mentioned by other posters - armed slams. For a normal character, armed slams are occasionally of use, but for someone with Flight they can readily do more damage than a typical thrust. Speed 6 is common for delvers, so Air Move 12 means your ST 13 elf can slam at a base 2d, meaning 2d+4 (call it 3d) for an armed slam with the Heavy Spear.

Overall, while the spear isn't outright dominant, it is a solid contender. Note some of the above changes if the character has Weapon Master (and skill at DX+2 or higher), as this gives all the thrusting attacks only a +2 but the swinging ones a +4, thanks to breakpoint issues.