Well, if the Holding the Charge rules carry over, then you can hold the charge in the weapon. If you touch anything with it you will discharge - hence allowing touch attacks with the weapon (but presumably without weapon damage), too.
The other consequence is that full-attack-channelling can't be held - because you have to "touch", i.e. attack all targets of the spell in the same round.
The relation between spells like Chill Touch and channelling is totally undetermined, especially since it's even unclear whether you really can make 20 touch attacks with it (with CL 20) in one round, if even friendly touches are limited to 7 or so per round (IIRC.
Now this would allow some weird things: For example, you could channel into an arrow (which you hold loosely as a melee weapon), and then have another character use Launch Bolt to shoot this arrow at an enemy, discharging on impact. (You can't do it yourself, or else the spell will dissipate.) That is certainly a poor man's Arcane Archer, but... the fact that you CAN do it when you really do need it is worth a little, maybe.