For decorative, non-combat weapons they couldn't be any better. I know because I've been collecting repro swords since the 1980s and have the collection to prove it. I'll buy any Valyrian Steel-brand sword, anytime, anywhere, as long as I can afford to keep up with their coming output (which has my wallet cringing in fear as I read about all their up-coming new products).
As to Ice's inscription with the House Stark motto, it certainly wouldn't be in English (I chock this up to a bit of harmless artistic license by GRRM and Valyrian Steel.) The real house motto would likely be in the written language of ancient Valyria, or if the hilt and pommel predate the blade, perhaps dating back to the time of Bran the Builder; maybe it would even be in some kind of ancient runic form dating back to the time of the First Men; only GRRM can settle this question (unless Elio has Secret Knowledge or at least a better memory than I do about this specific detail).
Edited by Ser Kennos of Kayce, 22 October 2012 - 04:57 AM.