Someone said:
The spiked-ball-on-the-end-of-the-chain isn't exactly a spiked chain, however. But yes, whenever I DM spiked chains morph into chained spiked balls. It helps he visualize it as a weapon, instead of a complicated way of suicide.
The problem is that this weapon is closer to example of a real world dire flail, than it is a spike chain. I'd have no problem with a feat that let you use that weapon to make reach attacks (but not necessarily threaten at range and close simultaneously, except again, maybe with another feat), but I have a big problem with the assumption that one feat gets you full access to the options available in such a clumsy and difficult to use weapon as a meteor.
My understanding of the meteor is that it is principally a stage weapon. It takes years and years to get good with it, and if you look at the traditional training done for or with this weapon its not combat training - its stagecraft, or atheleticism, or physical discipline. For example, filling bowls with water or flaming oil (from which it gets its name) and swinging it in such a way that you don't spill them teaches great balance and rhythm, but these are primarily performance techniques (juggling, dancing) not combat techniques. I don't see alot of evidence out there that the meteor was ever regularly used as a weapon. Instead, I see alot of evidence that the usage seen in a movie like Kill Bill - that is to say a staged performance - was about the only way the weapon was ever used.
If I really wanted to tolerate chain weapon silliness and they were long enough be considered something other than a variant light flail (which I have no problem with), it would be something like a meteor though because at least using that isn't completely suicidal. But it would have nothing like the abilities of a spiked chain (which someone currectly pointed out is basically every weapon advantage rolled into one) and alot of special rules that would make it rather unattractive. For example:
The wielder suffers a -2 penalty to initiative because of the clumsiness of the weapon.
On a roll of 1 or 2 that misses the target, the wielder must make a DC 10 Dex check or fumble (loose next standard action, trip self, or strike self).
Whenever the wielder misses the target (and there is not a fumble), if thier is an ally within 5', the wielder must make a DC 15 Dex check or make an inadvertant attack on an ally instead.
Whenever the wielder is in underbrush or dense wood, the wielder is at a -4 circumstance penalty to hit and -1 to damage because the chain snags on projecting vegetation.
Whenever the wielder does not have a clear space to swing (there are solid obstacles flanking the wielder) the wielder has a -4 circumstance penalty to hit and -1 to damage when making ranged attacks. This is cumulative with the underbrush penalty.
The weapon cannot be used at all (except as an improvised punching weapon) when the wielder is squeezing.
It takes a full round action to ready a meteor if it is not already in hand, or a move equivalent action if you have Quickdraw.
It (and all true 'soft' weapons) being poor parrying weapons cannot take advantage of the combat expertise feat.
Hopefully, by the time I got to the end of that list, any power gamer would have already decided this was not his thing.
Plain Sailing: If no one weapon gets as ridiculously overpowered as the 'spiked chain', no one weapon quite gets shafted the way that the staff does.