Nope. I need to list the answer so I can get to it quickly next time.
Bracers of Armor
Aura moderate conjuration; CL 7th
Slot wrists; Price 1,000 gp (+1), 4,000 gp (+2), 9,000 gp (+3), 16,000 gp (+4), 25,000 gp (+5), 36,000 gp (+6), 49,000 gp (+7), 64,000 gp (+8); Weight 1 lb.
Description
These items appear to be wrist or arm guards. They surround the wearer with an invisible but tangible field of force, granting him an armor bonus of +1 to +8, just as though he were wearing armor. Both bracers must be worn for the magic to be effective.
Alternatively, bracers of armor can be enchanted with armor special abilities. See Table: Armor Special Qualities for a list of abilities. Special abilities usually count as additional bonuses for determining the market value of an item, but do not improve AC. Bracers of armor cannot have a modified bonus (armor bonus plus armor special ability bonus equivalents) higher than +8. Bracers of armor must have at least a +1 armor bonus to grant an armor special ability. Bracers of armor cannot have any armor special abilities that add a flat gp amount to their cost. Bracers of armor and ordinary armor do not stack. If a creature receives a larger armor bonus from another source, the bracers of armor cease functioning and do not grant their armor bonus or their armor special abilities. If the bracers of armor grant a larger armor bonus, the other source of armor ceases functioning.
That bolded area shuts the entire piece of equipment down, not just part of it. Notice that it says you lose the armor bonus and the special abilities.
I could not find such a statement in 3.5.
Well, the only thing I see that prevents it is that to activate magic armor it must be worn. It seems that some DM's (myself included) would rule that whichever armor bonus you are benefitting from is the only one that is technically being worn. To me it falls under the old "No, you can't wear a chain shirt under your breastplate" thing.
Edit: Ninja'd. And I guess pathfinder did add that line. Nice.
I could not find such a statement in 3.5.
3.5 didn't need it, because there was no proviso for adding armor enhancements to bracers of armor in 3.5.
There was in 3.0 though, and most people play with the idea that unless 3.5 spoke against it that it was allowed since 3.5 was only made to update certain rules, and not replace the entire system. With that in mind I may have to check the 3.0 book to see if it is allowed to stack both.
The arms and equipment guide which allows the special enhancements to be added, does not restrict the combining of the bracers with the armor, but I think it is still a GM call since the devs most likely did not think about it.
