I would put Grave Wound Cooldown on tanking emblems only, not DPS ones. The Grave Wound legacy just scales poorly, and it doesn't actually increase your damage output at all.
On a 3 Major Emblem, I'd use:
+ Strength of Will Magnitude
+ Rallying Cry Cooldown
+ Rallying Cry Healing (Valiant Strike Healing might be a valid choice now, though)
- Shadow's Lament Cooldown
- Time of Need Cooldown
- Time of Need Morale Cost
I know folks prefer using swap emblems for the ToN legacies, but getting more uses out of ToN will generate more DPS for you than any of the other emblem options. (Even maxed out, the Grave Wound Cooldown legacy does not actually increase the amount of damage you get from the bleed -- it stacks with Cutting Attack but not itself.)
On a healing emblem, I'd probably replace the SoW legacy with Valiant Strike Healing and use Vocal Healing in place of Rallying Cry Healing. (Seems sacrilegious, I know, but recall that the SoW legacy's max magnitude is getting decreased from 15% to 10%, closing the gap between Song-Brother and Shield-Brother healing.) I'd also use the new Battle State and Defeat Event Duration legacy in place of Shadow's Lament Cooldown, then I'd probably look at WoC Pulses and SotD Cooldown..
Cainwen Ciaphas, Captain of Crickhollow, HERO OF MIDDLE EARTH!!!
I will not be pushed, filed, stamped, indexed, briefed, debriefed, or numbered! My opinions are my own!