Ericadawn
The Admiral's Lover
Awww, that's James' sword, that is! It was made by Will but it was commissioned for James' promotion and even Beckett associates it with James..."And the former owner of this sword, I believe..."
In the complete DMC script on Wordplayer, it reveals that Beckett restores James' sword to him as well as making him Admiral. The sword has quite a role to play. In the budget script, James caught it in his white gloved hands so that the blood on his hands shown quite literally and that was from a confrontation with Elizabeth.
Actually, last I heard, the sword ends up in Davy Jones' possession...so my money's on James' sword being used to stab the heart despite Will's promise to use the dagger, but who knows? If Will were to die...maybe you'd be right...
I'm house-sitting, but I had to log-in to chime in when it comes to James...