I'm afraid there's something missing from this conversation: Leadership.
Once you master jousting, you learn that the real secret to the game is in Leadership. Jousting for Fame (successfully) increases your leadership by one point and decreases your opponent's by one. Three successful matches and you've increased by three points! If you start with Wolfric, you can be at 10 leadership points in just two jousting sessions. A few more and you'll have reduced your Norman enemies' points to less than five, and if you keep at it you can reduce them to 0.
This is enormously important in battles! The command 'outflank enemy' in the battle scene compares leadership scores as its multiplier. If you hugely outscore your opponent, then you can crush large armies with small ones. In fact, once you master this trick, the game becomes completely trivial. Jousting is actually the most important skill in the game! All games, then, should be played with Wolfric.
Why not Cedric, who starts out at Strong leadership? Because he sucks at jousting! When challenged by the vile Normans, you may lose your leadership points to them, and be unable to recover them. He also sucks at swordsmanship, making raid missions much more difficult.
It takes a good deal of practice, but once you master jousting, you will win 10/10 games, regardless of your starting position.
As for STEEM, I can not successfully joust in STEEM. However, on a real ST, I can nail it every time. I think there's something about the timing in STEEM.
Cheers and happy jousting!