So how would you stat this weapon?

[The Cats]

OMGWTFBBQLOL What IS that?!?

Never going to actually use it, but dang ain't it sweet?

[Shinton]

Um.. not sure really

I think that would be more than Exotic...

Probably "Advanced Shield" (req: general, and tower)

I guess split the weapons apart too

Spiked Gauntet. 1d6? 20/x2
Long(short) sword. 1d8/1d6 19-20/x2
Buckler 1d6? 20/x2

Probably off hand.

XD That is awesome tho...

[TheLogman]

Probably the inspiration for this character. He attacks with weapons very very similar to that, exploiting the rules to basically ruin the game.

Now on to the topic. Ya, actually, what I would do is homebrew a new weapons system just for that. I would work similar to Multi-Attack and TWF, allowing you to attack with the 3-4 weapons attached to the monstrosity there in one turn for a hefty penalty. It would allow for some nice builds though, especially if you enchant the different blades differently.

[tyckspoon]

I'd just go with wearing a buckler and a spiked gauntlet while wielding a shortsword. No special proficiency needed, although you may want Improved Buckler Defense or whatever it was that removes the penalty for having a buckler on the same arm you're fighting with.

[Gwyn chan 'r Gwyll]

Shortsword+spiked small shield+spiked gauntlet.

[Lappy9000]

Wha-what is that thing even called? It's the aberration of the equipment world.

[Adumbration]

It looks a bit like that buckler-blade from Races of Stone. Turtle something, wasn't it? Worked like a buckler, except when you attack with it.

[Roderick_BR]

Races of Stone also have a "gauntlet shield". It's basically a exotic large metal shield, directly bolted in the back of the wrist in a metal gauntlet. It doesn't allow enough space to use a weapon, but your hand is free enough to hold and carry objects, and free your hand for spellcasting (spell failure for arcane magic apply).
You could combine it with the buckler-shield, with that a hilt to store an extra weapon (that photo doesn't look like you can hit with that sword without having to draw it).