On an obvious, literal level, we are all aware that the Dragon Sabre and the Heaven Sword represented the legacy of Gwok Jing and Wong Yung to the generations of wulin heroes that came after them. But were the two weapons also embodiments of their presence in a more metaphorical way? Allow me to explain.
During his lifetime, Gwok Jing was known as a man of plain-spoken, unyielding integrity and strength...and a fervent patriot and warrior. These characteristics seem to be embodied by the Dragon Sabre: it was not a delicate-looking weapon. It was large, bold, durable, and powerful. Moreover, in its heart it contained General Ngok Fei's Mo Muk War Tactics Manual - a text that seemingly represented Gwok Jing's very persona (and that he used in warfare against the Jin Empire and the Mongol Empire during his lifetime). Finally, note the name of the weapon: the Dragon-Slaying Sabre. Remember what Gwok Jing's primary martial art was during his lifetime: the Dragon-Subduing 18 Palms (Hong Lung 18 Palms). Finally, notice that the Dragon Sabre (as far as we know) was primarily possesed/wielded by men (i.e. Gwok Por Lo, its unknown custodians at the beginning of HSDS, Yu Doi Nam, Tse Tsun). The Dragon Sabre seemed to embody the spirit of its maker.
Similarly, the Heaven Sword seemed to embody Wong Yung's spirit. It appeared delicate, but was extremely sharp (and although it doesn't translate in Chinese the way it does for English, don't forget that "sharpness" refers to great intelligence). The weapon was called the "Heaven Sword"; I believe there is a phrase in Chinese, "as all-knowing as Heaven," to describe extremely intelligent people such as Wong Yung. Within the Heaven Sword as the 9 Yum Jen Ging, a text that had profoundly influenced Wong Yung's life from before her birth (her mother died attempting to produce a second copy of it for East Heretic Wong Yerk See), and of course this text would profoundly influence her adult life (and those of many of the people associated with Peach Blossom Island) as well. After Wong Yung's death, the Heaven Sword remained in the custody of women (her daughter Gwok Seung and the three Ngor Mei Sect Leaders who followed her). Just as the Dragon Sabre had embodied Gwok Jing's spirit, the Heaven Sword seemed to embody the spirit of Wong Yung.