Actually, I've seen that scene, and heard the DM gripe.
I was the one running the fighter/ranger/wiz with the chain.
I've had to educate a few DMs about the limits of the combo as well. It's powerful when the DM is running swarms of lower level critters, but many don't realize that, because the combo requires four feats and a class dip, it's expensive. One was particularly shocked to find the feats the character *didn't* have, things he expected any fighter type of his level to have. I explained the obvious: If I spend four feats for that combo, it's four feats he doesn't have to spend on things like Spring Attack, Whirlwind Attack, Cleave, Great Cleave, etc. etc.
You could see the light dawning in his eyes as things finally clicked: If you trade for a powerful thing, you have to trade *something* to get it.
So I don't personally think that the spiked chain is a broken weapon, but I've heard so many gripes about it that I thought I'd ask people how they might un-break it.
Hence this thread.