Sorry fishman that's not how it works, it is much more complex than that. The dominant gene will always show, regardless of male or female parentage. For example if the gene for yellow colouration is dominant to that of red, regardless of which parent it came from, yellow will be the colour of the fry. Same applies to hair colour in humans. The hybrid fry are fertile and are perfectly able to reproduce.
The fry will always carry the swordtail gene and it's true the sword is likely to be quite a lot smaller. However, you'd actually be surprised at just how many "platies" and "swordtails" in the hobby are platy/swordtail hybrids.
I'm not sure parentage would necessarily matter here since females still carry the sword gene. A male swordtail with a longer tail would, however, probably help produce a longer tail in the offspring.