
Abraham spalding |

Well if on a gauntlet it would be "always ready" instead of simply when drawn. Meaning you could walk through town with a +5 initiative bonus in addition to being able to actually using a normal weapon still, and if you do come across a trap you'll have the benefits from that as well.
The way I see it, this is basically a 72,000 gp item that gives a +5 to initiative, and Saves/Ac versus traps at all times.
Now 72,000 gp isn't cheap... but +5 to initiative is a heck of a bonus.
For a better break down:
+1 Initiative/etc: 8,000 gp
+2: 18,000 gp
+3: 32,000 gp
+4: 50,000 gp
+5: 72,000 gp
Just seems like something to go opposite of the +5 Defending Gauntlet.
On any other weapon this wouldn't be quite as huge of a bonus due to the need to hold the weapon at all times.
Personally I don't think it is a game breaker but it has a certain smell to it even if completely legitimate.