I've been studying both of these documents as my Week #2 assignment. In my opinion (and isn't that what this blog is, really?), these documents are a way of remembering the lessons/items that are important. For example, one of them speaks so much of the wind directions. Without the rhyme/poem style, I'm not sure I'd ever remember which is which.
The final line in each document, though, is probably the most important. "An ye harm none, do what you will" is the last line of both the rede and the creed. In my opinion, that's the line we as humans need to live by anyway.
Week #3, here I come!