Hi Justin!
Forging hammers are a unique animal compared to other hammers. Most commercially available hammers have a flat face..... not what you want for forging. A forging hammer is used to "direct" the movement of hot steel in the direction YOU want. To that end a forging hammer should have a convex face. The degree of convex often depends on an individual's personal taste, and their level of experience. Personally, I have 4 different hammers that I use the most when forging. All are different weights, from about 3lbs, down to 8oz. Each has a different degree of convex on the face. I use the heaviest hammers when first starting a project to move the most material in the fewest heats, then as forging progresses, I start dropping down in size/weight for "detail" work. For most people, I find that a 2-2 1/2lb is about the right weight. It has enough weight to some heavy forging, but isn't so heavy that it's difficult to control.
That being said, of course it all depends on each individual. I've seen big, burly, muscle bound guys who couldn't control a 2lb hammer, and I once had a tiny lady in the shop who did just fine with a 3lb hammer.
The peen side of the hammer is something most find very important in forging. It allows for different operations, without changing hammers....just more efficient. I was never happy with the standard "cross peen" or "straight peen" hammers, because they are just to difficult/unnatural to use. Which is why I started producing the Angle Peen hammers.
I also make/use what I call a "Double Draw" hammer..... which has a 45 degree offset peen on each side. One side allows me to draw along the length of a work piece, and by simply flipping the hammer over, I can draw width wise with it.
When I teach, I always try to make people understand that forging isn't about brute strength....it's about finesse. Swinging a hammer wildly, never gets much done....except to make a mess.
I always found it interesting that many who forge don't give much thought to the hammers they use, and have never understood why. Choosing the tool that does the majority of the work can either make your life easy.....or unnecessarily difficult.
Here's a link to the hammers that I make/use:
http://www.caffreyknives.net/angle_peen-hammers.html