How about Fakir from Underware, the contemporary blackletter?

Another readable blackletter would be Algo FY by Fontyou.

It depends a lot on the flavor of sword and sorcery, I think.

• Maybe something lombardic, like Goudy Medieval
• Perhaps a pseudo-uncial like Aniron
• Many, many blackletters to choose from

Once you narrow down the general feel you'd like a little bit, I'm sure you could get more constructive feedback.

What ChristTrekker said.
Also, what's the body text typeface? And, how much subtle you want to go?
Is something like Faunus/Satyr (http://monokrom.no/catalogue) too subtle?

Myself, I'd go for something more readable, but still old, like the Golden Type or one of the imitations like Jenson Oldstyle or Kelmscott.

Nice suggestion, John.

How about Cristoforo?
http://app.webink.com/font/cristoforo

Trajanus
https://www.myfonts.com/fonts/linotype/trajanus/
Merlin
https://www.myfonts.com/fonts/fontfont/ff-merlin/

Plenty of good suggestions here. Faunus is pretty subtle, though.

Riffing on the Jenson Oldstyle / Kelmscott direction, one could also go with a more classic Jenson, such as

Cloister http://www.myfonts.com/fonts/lanston/ltc-cloister/
Centaur http://www.myfonts.com/fonts/adobe/centaur/
Adobe Jenson http://www.myfonts.com/fonts/adobe/jenson/

“Sword & Sorcery” implies a sort of wild, low fantasy setting, though. I am thinking Fritz Leiber and the like. This stuff was especially popular back in the 1970s and became associated with the art nouveau revival that was popular at the time. In that vein, the earlier suggestion of my revival, Cristoforo, is reasonable. I'd avoid Arnold Boecklin as being a bit of a cliche, but there's plenty of other stuff in that vein.
http://www.myfonts.com/search/art+nouveau/fonts/

You should take a look at Cappella.

I spontaneously thought of Mason. Too cliché?

I agree the briefing is very open, and if you’re looking for a heading face then it would be necessary to know what you’re using for text.
Re. Satyr: I’ve seen it in one book on themes of witchcraft and the like where it worked really great. But that was for text too.

I have seen typefaces like Mason in places like Dafont; as a serious typeface it has a place in display use (I could see it (or perhaps remember having seen it used) used for chapter headings in a novel, if it was a murder mystery following in the Da Vinci Code trend; that's its cliché niche) - I find it too outré rather than too cliché for sword and sorcery use, though (that was the fault of my suggestions).

Another cliché suggestion would be Freehand or a similar face, like Kingthings Calligraphica.

I like Mason (or Alchemy) just fine in this context, myself.

I like Algo.
For blackletter, I’d consider Gryffensee.
For a Roman, Albyona could be nice. For a sophisticated uncial, look here.

S. John Ross at Cumberland Games and Diversions has made a bunch of fonts for various campaigns. They are at http://www222.pair.com/sjohn/fonts.htm.