It would be very difficult IRL, but given that once your character is at the end of the OC (or SoU, not to mention once you hit HotU) he will hit god-of-war-ish levels I'd say screw that particular piece of "realism". At lower levels the malus to THAC0 serves as sufficient punishment.
I remember a Swedish PnP D&D clone that gave chain weapons some nice properties, like making them more difficult to block (and increased chance of "fumble" during attack).
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