Here are some pictures of the swords.
I've also put the sword of Phicen's Tomoe (which is plastic) in it, for comparison.
They're taken with just natural daylight. It was clouded, so lighting was a bit dim and the pictures turned out a bit darkish. They were lying on a white sheet of paper, which is greyish in the pictures, so the color is a bit off. The red scabbard is really close to its original color (on my screen).
As you can see both the swords that came with this figure have a wave-pattern at the edge. I guess that's intended and is to show the wear or frequent sharpening of the blade. I'm not sure if it's realistic, because I don't know a lot about swords. It looks OK to me, but the area might be a bit too big (it takes up about a quarter of the blades, it's more prominent on the katana than on the wakisashi*).
I'm not sure if making the blades out of metal improves them. The cutting edge of the plastic sword is sharper. Which kinda makes sense, because if they made the metal blades sharp, they'd actually be selling sharp knives, which probably isn't a good idea.
The plastic also feels smoother.
Downside of the plastic is that it can bend, which the metal doesn't. But IMO that's not really an issue.
The metal blades are a bit heavier.
You can see some greyish residue at the Wakizashi* at the point where the blade meets the hand protector. I only noticed that after taking the pictures. That seem to be some residue glue or something. I could scrape most of it quite easy.
* the katana is the long one, the wakisashi is the short one, if I'm correct.