1) You are not wielding them. So yes, four +1 vicious daggers would give an extra 2d6 damage to anyone struck. Seems a bit of an extravagant expense for 2d6 damage, but you have the option.
2)Not wielding, no AC boost.
3)You can't set a Spell Storing weapon to go off "on their next attack." You can only activate them with a free action when they hit. As you aren't wielding them, you can't take that action, and thus can't use Spell Storing.
Well, they say "one per day on command." I'm going to assume that means a command word item, so it is a standard action which does not provoke an attack of opportunity to use one.
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1) You are not wielding them. So yes, four +1 vicious daggers would give an extra 2d6 damage to anyone struck. Seems a bit of an extravagant expense for 2d6 damage, but you have the option.
2)Not wielding, no AC boost.
3)You can't set a Spell Storing weapon to go off "on their next attack." You can only activate them with a free action when they hit. As you aren't wielding them, you can't take that action, and thus can't use Spell Storing.
I'm not sure I agree with point #3. The Spell Storing description states,
"Anytime the weapon strikes a creature and the creature takes damage from it, the weapon can immediately cast the spell on that creature as a free action if the wielder desires."
Wreath of Blades states that,
"When all of the blades share the same enhancement bonus and special weapon qualities, a creature that is damaged by this spell is also treated as if hit by one of these weapons."
A creature affected by the spell would be treated as if hit by one of the daggers, and the weapon discharges its spell whenever it strikes a creature. However, it seems to me that if you had four +1 Spell Storing mithral daggers and they were all loaded up with a spell, then the opponent would be targeted by *one* of the four spells ("...treated as if hit by *one* of these weapons").
I would also draw the line, I think, on additional uses. Wreath of Blades goes on to say,
"For example, if a 12th-level magus casts this spell using four +1 frost mithral daggers as focus, the damage dealt by the blades would be 6d4+1 plus 1d6 cold damage, *as long as the daggers were commanded to be sheathed in ice.*"
This implies that all the weapons need to be in the same state of activation; in other words, all four might need to have a spell in them. Discharging one spell would leave you with three out of four "primed" daggers, and therefore Spell Storing couldn't be used again until all four were filled again. Heck, I might even by uptight enough to say...
I will disagree. :)
The key line is "if the wielder desires"As the weapons are not wielded, there is no wielder, thus no desire.
The example with the frost blades is because before casting his spell, the blades could all be commanded to frost up. There is no such command for spell storing, it is a situational... when hit... the wielder can do X.
Just my 2 cents.
Okay, that was weird, did my post just 'eat' someone else post?
Heh, no; I actually deleted my post after re-reading the entry; I came to the same conclusion you did. Apparently the post stuck around long enough to be responded to.
I must say, though, that it seems an odd decision. After skimming the weapon special ability entries, it seems that the vast majority of them specify a wielder. I wonder if that was an intentional aspect of this spell, as there aren't a lot of options left by that ruling. I might house rule to allow them to be wielded so that players have more options (but only for that purpose; they couldn't make attacks of opportunity and whatnot).