The best items to have in your inventory, in my opinion are,
1. Beer hat(beer + construction hat) combination weapon, this allows mobile healing. Which due to Jed's strike and shotgun, is truely a God send.
2. Spiked bat(baseball bat + box of nails) This gives high damage with a nice swing to make sure you hit him.
3. Paddlesaw(paddle + chainsaw) This must be carried so would be your starting weapon, it would only be used once, at the start when he's looking for Katey, as he's not focused on you. It gives you time to strike, it's not worth to pick up and restart as it will be knocked out of your hands a lot.
4. Broadsword, This is a fast high damage weapon which you can swing multiple times. What's not to like?
The heavy offence and portable healing make a nice mixture. With enough time the fight will be yours.