Understood. A TWF would rather never have to go S&B unless absolutely necessary. But AC-wise, if he needed AC, he would equal a "ideal" AC THF given the same configuration and perhaps exceed by a point, depending on gear.
The THF Dwarf would have the dps edge over a TWF Dwarf if both were forced into S&B, because the free Dwarven Axe synergizes well with THF Feats and chances are has a slightly higher Str (depends though, with such a high Dex of 12-14, he might not actually).