Though this comment would get me excommunicated in some circles, I would say that in this instance, Rev could teach Peter Lyon a thing or two. Or Alan Lee and/or John Howe if they drew it, though I can't imagine those two Tolkien stalwarts dreaming up this atrocity.
The whole dragon's tooth thing is stupid beyond belief. Yes, I'll keep saying it. Now that I see Orcrist with a hilt like Sting's, I see how much better this sword could have looked, should have looked, and it would have retained not only some historical accuracy, but would have looked more culturally correct. As for the runes, Rev's idea is a 1000 times better. Unfortunately, as I pointed out before, Ecthelion is a character from the Silmarillion and PJ and Weta do not have the rights to draw on names and events from that book. So, while the real Orcrist should have an inscription like that, instead we are stuck with a silly, non-sensical invention for the sake "let's do it because we can and our fans are too stupid to know better." Think again, Einsteins.
Honestly, if I ever buy this disaster of a sword, this is how I will e xp lain it to someone viewing my collection: the sword belonged to Ecthelion but the hilt and crossguard were badly damaged during his fight to the death with the Balrog. The blade was recovered from the fountain during the sack of Gondolin and it moved east out of Beleriand before the War of the Wrath. At some point it fell into the hands of some dwarves who deciphered what it was and crafted a new hilt for it from a dragon's tooth and inscribed new runes upon it, retaining its name. The sword was later lost once again, finally ending in the troll-hole in Rhudaur.
When the folks who are getting paid top dollar to come up with these ideas are too uncaring to do their jobs, you just have to make stuff up on your own to cover up their lazy mistakes.