
PathlessBeth |
My reading is that purpose of the rules for combining multiple functions into one item for a cost increase is to save item slots, not to increase the upper level of the item's power. So, as seebs and are said, that would allow you to create a rod that could apply either of two metamagic feats, but not both at the same time.
As a DM I might disallow it (as a house rule), though, depending on the power level of the campaign. Metamagic rods are very powerful even without further enhancements.

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The thing about houseruling that you can have 2 metamagics on the same rod is that it breaks action economy.
Normally the spellcaster would need to put one rod away and take out the new one - two move actions (which provoke without a haversack). Or drop one as a free action.
If you remove that limitation, you're buffing the spellcaster.
Putting a second power into the magic item like that, as a custom item, should increase the price significantly, not just by the extra levels per feat.
This might apply:
Abilities such as an attack roll bonus or saving throw bonus and a spell-like function are not similar, and their values are simply added together to determine the cost. For items that take up a space on a character's body, each additional power not only has no discount but instead has a 50% increase in price.

Ughbash |
The thing about houseruling that you can have 2 metamagics on the same rod is that it breaks action economy.
Normally the spellcaster would need to put one rod away and take out the new one - two move actions (which provoke without a haversack). Or drop one as a free action.
If you remove that limitation, you're buffing the spellcaster.
Yes the rod that allows you to quicken or daze is more useful then one that allows only one of those options. It also costs more then getting a rod of each.
So the person spends money to save action on the rare time he would use first one metamagic rod and the other rod. This is balanced by the extra cost, just as it is balanced by extra cost to combine a cloak of resistance and a cloak of the manta ray.
Everything has a cost and if you save on slots, or save (occasionally) on action economy it is coming out of your wealth.