Touched by the Light:
The reason that we don't want nor need Spell Power anymore is because Touched by the Light gives us all that we need, allowing us to stack Attack Power (or more specifically, Strength -- which is how we get Attack Power and some Block Value). Don't think of this talent as a threat booster, think of it as the ability that ALLOWS you to stay on par for threat with the other classes. In a sense, think of it as a permanent "Defensive Stance". Warriors, DKs, and Druids that aren't TOTALLY specced to tank have a HUGE advantage as tanks over us because Righteous Fury alone just doesn't measure up to Defensive Stance/Frost Presence/Dire Bear Form. We only reach parity with the other tanking classes (for late-game stuff) when we properly spec to tank. You might be able to tank through a level 80 instance or POSSIBLY some heroics with an excellent group as Ret -- but you'd be at a huge disadvantage not only compared to a tank-specced tank, but compared to a DPS specced Warrior/DK/Druid as well. Touched by the Light is absolutly core to Paladin tanking.
From my guide, which is currently the first thread on this forum and a stickie:
Avenger's Shield -- 07% SP, 07% AP
Consecration -- 04% SP, 04% AP
Exorcism -- 15% SP, 15% AP
Hammer of the Righteous -- 4xDPS + 29% AP
Holy Wrath -- 07% SP, 07% AP
Judgement -- 22% SP, 07% AP
SoV/SoC -- 08% SP, 15% AP each tick per stack
How can you ignore Spell Power when nearly half of your overall spell-augmentation damage is coming from it?
Judgements of the Just:
You always want a 20% slow up on a boss. Always. It's good to have it up on trash too. Now, there's only a couple of fights in the game (bosses) that you can actually say the second/third etc tanks are OFF-tanks. By that I mean, they literally have **** all to do while you're tanking the boss and can stand by you thunderclapping away. How is the Warrior supposed to thunderclap your horseman in 4H? Etc etc etc... You can't rely on someone else to put up a slow on your mob. Every tank has their own job to do, and it's usually not all back/back/back with eachother. Furthermore, our slow is among the CHEAPEST and most effective slows there is. The DK's slow is the only one that even comes close to comparing with the raw resource cost of ours. We are constantly judging anyway, just like a DK constantly has full diseases (where their slow comes from) on their targets. Druids take time to stack their slow on their targets, and it takes rage to do it (mind you, it's rage spent on another attack that they should be doing anyway) -- but the time it takes is a huge detriment. Warriors have the most expensive slow there is for single targets. They'd be able to use their rage MUCH more efficiently if we kept the slow up during the rare occasion that there actually is only one thing to beat on and the tanks have nothing better to do. And you can't rely on DPSers that have the ability to slow attacks -- they shouldn't have to in the first place. We should be. That's why all of the tanks now have this ability.
Kings:
Holy probably should not be taking Kings. They can get much better crit by skipping it, and crit is golden to them. They are gimping themselves in a min/max sense if they do. It is, however, one of the core components of the cookie-cutter Ret build, and so 90% of the Rets you see will likely have taken it. If you know you'll always be running with at least one of these Rets, you might be able to skip it. Yes, Sanctuary is a better first buff (some people debate this, but this is just what I'm presenting to you -- take it or leave it) for tanks to have, especially for you to have. Kings is a VERY powerful second buff, I'd dare say it is almost of equal value in general -- and in some fights it could be of more value. Wisdom is absolutly 100% the most important buff for healers to have by a long-shot. Might is the best (though not such a long-shot) for physical DPS. The only classes that get the most out of Kings are magical DPSers -- Warlocks, Mages, Crit Chickens, Shadow Priests. Still -- Kings is an extremely powerful buff overall, and you should always do whatever you can to make sure that it *IS* available. Especially in Raids, and ESPECIALLY in 10 mans where group composition can be a problem. That much raw power just can't be neglected. Which means, if you can't rely on a Ret for it you should probably consider speccing into it yourself.