If you are up on your class and a holy paladin, you probably know about this site. If you don't, then you better add it as a bookmark. I like it alot.
They have an article that links to this thread which is perhaps one of the best posts explaining what holy Paladins are currently going through and does it much more effectively (and with less whining) than me!
And here is Ghost Crawlers response
Which shows a complete disconnect between the game developers and the people playing the class. GC has a point, the fact that they have to develop content around our spell is bunk, much like rolling lifeblooms and chain heal/coh made them make encounters like Twins in SWP. The problem he is missing the point the OP made which is pretty damned good, Ulduar hardmodes are designed around HL. So yes, RNG can see your tanks taking four hits of 20-35k within 3 seconds meaning if you are pre-bomb healing your tank they are dead. Even gemming SP, going into prot for + healing bonus etc FoL is just not going to work, like at all for helping tanks stay alive and throwing more healers at the problem isn't going to work just because of the sheer burst on the bosses requires massive preheals and if you are starting a 2 second cast (or even a 1.5) HL its already too late and the bad little hot from fol sacred shield aint helping.
Also comes back to the fact that the other healers have hots, aoe heals etc that handle most splash damage. From personal experience I can raid heal and beat people to the punch and help spike damage on random raid members but I am still going to have a smack tonne of over healing and its a gcd race that doesn't mesh well with healing the tank even with the new Beacon.
This is really kind of lame, and like I said its going to take multiple patches for Blizzard to get paladins right after they completely throw us out of whack in 3.2.