So, if we draw parallels between that fight, and Syrio’s encounter with the guards, we are looking at someone not much taller than Arya, but clearly able to counter opponents. Now, I doubt however good Syrio’s wooden sword / rapier skills are, they will always come short of brute force. And unless he can offer certain counterweight to that force, he is doomed. So, what we see during the encounter is:
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… The stick moved again, blindly fast. Arya heard a loud crack as the sword went clattring to the stone floor. “My hand”, the guardsman yelped, cradling his broken fingers.
…Syrio did not wait for them to reach him, but spun to his left. Arya had never seen a man move so fast. He checked one sword with his stick and shirled away from a second. Off balance, the second man lurched into the first. Syrio put a boot to his back and the red cloacks went down together. The third guard came leaping over them, slashing at the water dancer’s head. Syrio ducked under his blade and thrust upward. The guardsman fell screaming as blood welled from the wet red hole where his left eye had been.
The fallen men were getting up. Syrio kicked one in the face and snatched the steel cap off the other’s head. The dagger man stabbed at him. Syrio caught the thrust in the helmet and hattered the man’s kneecap with his stick. The last red cloack shouted a curse and charged, hacking down with both hands on his sword. Syrio rolled right, and the butcher’s cut caught the helmetless man between neck and shoulder as he struggled to his knees. The longsword crunched through tmail and leather and flesh. The man on his knees shrieked. Before his killer could wrench free his blade, Syrio jabbed him in the apple of his throat. The guardsman gave a choked cry and staggered back, clutching at his neck, his face blackening.
He breaks finger bones, shatters knee cap, gouges eyes and ruins people’s throats practically with a wooden stick. None of this can be explained exclusively by his speed or agility, and clearly, to do so he needs to have strength that is excessive to his looks.
To draw the line: after reading Jon’s encounter with Mance, and discovering about the FM, for me, Syrio identity is definitely a glamour (or one of the faces used by the FM). So, the assumption that makes sense for me is that following the fight with Sir Trant, Syrio either changes back into his previous state, or assumes new personality. And here’s my theory:
1. Before appearing as Syrio, the FM behind him follows the happenings at the Red Keep closely. He monitors the development of the game, and decides to be involved, seeing how the situation spirals out of control, so
2. He assumes the personality of Syrio, answers the call of the Hand for a dancing master, and starts teaching Arya
3. Following the confrontation with the guardsmen and Sir Trant, he escapes. While in hiding, the FM deducts that Ned will probably be allowed to take black, so he plots to join the escort of new recruits, and monitors the Wandering Crow Yoren, but fails to account for Joff’s cruelty and witnesses Ned’s beheading. He also realizes Yoren takes Arya with him.
4. After the execution, the FM assumes personality of a woman and appeals the King to give her Ned’s bones as she loved him long time ago. Joffrey, being what he is orders her capture and throws her into dungeons.
5. I assume the FM needs to be in the dungeons for some undisclosed purpose, and I assume he is there to discover more of the ways in/out of the dungeons to ease his access to the King’s Landing. Or maybe there is something else/someone else in the dungeons that he requires. Nevertheless, while in the dungeons, the FM assumes personality of JH estimating that since the Wandering Crow is there, he may as well be freed to join the NW.
6. Which actually happens…
7. Now, what is strange, is that after finishing it with Chiswyck and Weese, JH actually seems to push Arya towards saying Joffrey’s name:
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… He was sworn. “Even if I named the king…”
“Speak the name, and death will come. On the morrow, at the turn of the moon, a year from this day, it will come. A man does not fly like a bird, but one foot moves and then another and one day a man is there, and a king dies.” He knelt beside her, so they were face-to-face, “A girl wispers if she fears to speak aloud. Wisper it now. Is it Joffrey?”
And considering this, it seems his previous access to the dungeons would pay off. If he was really set to write off Joff, then knowing his ways in and out of the King’s Landing would give an enormous advantage. Arya never actually says Joff’s name, but the FM implies that he has “duties to do”…