A select few crazy people have mastered the Hand to Hand skill, yes.
Not me, I'm not crazy enough, but I do know there is no such worthwhile payoff. No special technique that becomes available at level 250, no sudden exponential increase in your damage output after level 200, nothing. It does ofcourse scale with level as does any skill, but there's no point where it suddenly becomes much better (as elemental magic does with the racial spells at level 125). For Hand to Hand combat, what you see at 50 is what you get at 250.