Sorc 1 with psychic bloodline / Exploiter Wizard with bloodline development
Psychic Bloodline Arcana: Your sorcerer spells and spell-like abilities count as psychic instead of arcane. You use thought and emotion components instead of verbal and somatic components when casting your spells.
Bloodline Development: The arcanist selects one sorcerer bloodline upon taking this exploit. The arcanist gains that bloodline’s 1st-level bloodline power as though she were a 1st-level sorcerer. The arcanist must select an ordinary bloodline with this ability, not one altered by an archetype. As a swift action, the arcanist can expend 1 point from her arcane reservoir to bolster her latent nature, allowing her to treat her arcanist level as her sorcerer level for the purpose of using this ability, which lasts for a number of rounds equal to her Charisma modifier (minimum 1). She does not gain any other abilities when using this exploit in this way, such as bloodline arcana or those bloodline powers gained at 3rd level or higher. If this ability is used to gain an arcane bond and a bonded item is selected, the arcanist can only use that item to cast spells of a level equal to the level of spell that could be cast by her equivalent sorcerer level (limiting her to 1st level spells unless she spends a point from her arcane reservoir). If the arcanist already has a bloodline (or gains one later), taking this exploit instead allows her arcanist levels to stack with the levels of the class that granted her access to the bloodline when determining the powers and abilities of her bloodline.
And taking the following FAQ into consideration :
Sorcerer: Do the bonuses granted from Bloodline Arcana apply to all of the spells cast by the sorcerer, or just those cast from the sorcerer's spell list?
The Bloodline Arcana powers apply to all of the spells cast by characters of that bloodline, not just those cast using the sorcerer's spell slots.
General rule: If a class ability modifies your spellcasting, it applies to your spells from all classes, not just spells from the class that grants the ability. (The exception is if the class ability specifically says it only applies to spells from that class.)
I would say "Yes, my wizard spells become psychic in nature (so I can run around with ultra heavy armour and avoiding arcane spell failure")
Just about every arcana talks about your spells, not your sorcerer spells. Psychic bloodline is an exception.
Whenever you cast a spell of the polymorph subschool, increase the duration of the spell by 50% (minimum 1 round). This bonus does not stack with the increase granted by the Extend Spell feat.
Whenever you cast a spell of the summoning subschool, the creatures summoned gain DR/good equal to 1/2 your sorcerer level (minimum 1). This does not stack with any DR the creature might have.
Whenever you cast a spell of the water type, your effective caster level is increased by one, and summoned creatures with a swim speed or the aquatic or water type gain a +1 morale bonus on attack and damage rolls.
The exact wording of the psychic bloodline arcana suggests that no, it doesn't apply to spells from other classes.
Edit: and the last part of the FAQ you quoted 'The exception is if the class ability specifically says it only applies to spells from that class' reinforces that.
You are absolutely right, I totally overlooked this little piece of crucial information. (Edit: that the other bloodlines are worded generally)
I interpreted the "sorcerer" part in the bloodline as within the design philosophy of the bloodline for sorcerers. The bloodline development feat is written for arcanist and exploiter wizard uses his wizard levels for determination of arcanist effects. Following this loop with bloodline development arcanist stacks his levels with sorc for the determination of stuff, it would result in:
exploiter wizard (ew) = arcanist, bloodline development (bld) effect = arcanist + sorc -> bld = ew + sorc for all purposes and intends and than the sorc gets substituted by ew + sorc in the bloodline arcana.
Well, sadly no prepared psychic caster. Thank you for your fast reply!