I was hanging up my Godric Gryffindor rip-off sword when I thought about it...
Why would a magician need a sword? Sure it was convienant to say the least for Harry and he needed to use it against a basilik because his wand was being coveted by Riddle's Memory. In addtion to this he did not know enough magic to fight off a basilisk--plus I assume that the hide may be too thick to penetrate with spells much like a dragons--so there for Harry couldn't just shrink it.
However to nit pick, why would Godric, a man smart enough to invent a sorting hat and be talented to forge a school for magicians, need a sword?
Now I am sure this is one of those things JKR would say... "I don't think that way..." and that I am over anaylising a bit. But seriously, objects are often thought about long and hard before they are just placed in the hands of a character. Especially if they are going to have any strong focuses in any given seen. Deep thoughts. Okay back to laundry and thinking about swords.