Arcane Channeling + Shocking Grasp

So last night our 3rd level duskblade wanted to use arcane channeling to hit the BBEG wearing breastplate with shocking grasp. The question is, does he gain the +3 bonus for the BBEG wearing metal armor?

A side question; If the attack misses, does the spell stay "charged" in the weapon a la the Spellsword, or does it disappear?

From the SRD:

Shocking Grasp
Evocation [Electricity]
Level: Sor/Wiz 1
Components: V, S
Casting Time: 1 standard action
Range: Touch
Target: Creature or object touched
Duration: Instantaneous
Saving Throw: None
Spell Resistance: Yes
Your successful melee touch attack deals 1d6 points of electricity damage per caster level (maximum 5d6). When delivering the jolt, you gain a +3 bonus on attack rolls if the opponent is wearing metal armor (or made out of metal, carrying a lot of metal, or the like).

From PHB2

Arcane Channeling:

...you can use a standard action to cast any touch spell you know and deliver the spell through your weapon with a melee attack. <snip> If the melee attack is successful, the attack deals damage normally; then the effect of the spell is resolved.

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