Rapier is certainly capable of handing every single task, but as you should know, it's not the 'best weapon' for every task. If you have a maul for waterfiends, use it. If you have high magic or range levels i'd recommend them for tasks such as mithril dragons. I have both rapier and maul and maul is honestly only slighty better for waterfiends. Sure it's a lot more accurate, but in terms of damage/time rapier is pretty close as when it does hit it does great damage and attacks so much faster.