Phew, Finally! Somone realized what a personification was.

Note: Events cannot be personified becuase they are events.

BG-57, you're on the right track. But it isn't an object at all. Maybe this will help narrow it down.

Soft and blinding, so very quiet,
Dancing with such deadly grace.

These two lines are descriptive. The object of the riddle appears to be dancing, but isn't really, becuase it is inanimate.

With a whisper and a dream,
Death comes in on silent wings.

These two lines don't describe the object itself but rather the effect it has on the characters at one point in the game (note: this effect does not always occur, it depends). No, it is not magic, I'll say that right off.

Remember, 'wings' is a personification, but it gives you a sense of where the riddle object comes from.

So, in summary, what comes down from the sky but doesn't have wings, affects the chars (that could've resulted in death) and is inanimate, but not really an object per se?

This is a huge amount of clues. Guess more. :P