After watching Reclaiming the Blade I've come to agree with those being interviewed and the producers: the sport of fencing is to Western Martial Arts what the bow is to Eastern. It tells you very little about how a combat style would actually be used in real life. So I've changed my view to that of all combat skills are martial arts skills.
What this means is that you can engage multiple opponents with any skill, you get one attack per weapon per opponent, provided you have a non-negative OB (though I am considering dropping this). Your OB for the round is:
OB+(-20 x (number of opponents -1))-(any applicable position bonuses)
This OB can then be split up among the Targets, and the OB/DB split can vary between targets (to reduce record keeping you can force it into one of three options: full OB, same OB/DB split, full DB). Non-armor DBs must be split among the targets.
Examples: (A=attacker, T=targets, >=Facing) Assuming the Attacker is engaging all valid targets and the Attackers OB is 100:
T
A>T 100+(-20x(2-1))-(15); 85+(-20x1); 85-20=65
T
A>T
T 100+(-20x(3-1))-(15
15); 100+(-20x2)-(30); 70+(-40)=30
TT
A>T
T 100+(-20x(4-1))-(15+15+15); 100+(-20x3)-(45); 55+(60)=-5
The big question is: should the attacker be allowed to make any attacks in the last example? Right now, if the attacker ends up with a negative OB, it is applied to all attacks. The attacker is allowed to ignore a target, but he gets no bonus to DB beyond AT bonuses against that target for the round. An attacker also cannot voluntarily reduce his OB to a negative to boost his DB.
If a shield is used as nothing but a shield, the DB can be split among targets on the shield side (or it can just be rolled into the DB pool). If the attacker makes an unskilled attack with a shield, he suffers the -30 to OB and looses the shields parry bonus.
In the case of TWC, for each weapon, the attacker uses the lower of his weapon skill bonus or TWC bonus as his OB (100 long sword, 40 dagger, 50 TWC becomes 50 long sword, 40 dagger). Off hand attacks suffer the normal -20 unless he is ambidextrous, this is applied after the base OB of the weapons is determined (continuing the above, his 40 dagger becomes 20, not 30). Attempting TWC without the TWC skill results in a -30 TWC skill bonus; a GM may allow a similar TWC to be used with a penalty. Suggest that weapons being employed should be from the same weapon groups as the developed TWC, penalty to TWC should range from -30 to -15 depending on weapon similarity. When paired with a weapon, I consider most MA skills valid attack skills to use with TWC (strike, boxing, throw, grapple; crits often need to be modified).