
Wheldrake |
Pathfinder Maps Subscriber; Pathfinder Roleplaying Game Superscriber

IIRC, the Rod of Seven Parts is set up so that each part functions as a magic item on its own, and when multiple parts are assembled, additional powers are unlocked. I seem to recall there also being a few negative consequences associated with it, as was often the case with earlier edition artifacts.
If you get a listing of the powers from an earlier edition of D&D, it shouldn't be too difficult to port that over to Pathfinder. Plus, it'll create a long-term quest for greedy players to pursue.