I personally am not a fan of Holy Power at all either. I see it's applications for Ret and agree that most likely the worse part about it is Inquisition. However, I F-ing hate it with Prot. I've actually loathed Prot more and more to the point where I've actually replaced my "Pally Love" for my Death Knight.
Personally, I didn't mind Ret so much in TBC as I did other players opinions on Ret because math isn't for everyone.
But yeah, I hate it for Prot and Holy and still fail to understand it's "need" to be added. When it first was introduced I felt like a really crappy Rogue, which doesn't bode well as I really don't like Rogues combo point system either.
Then again, I've steadily disliked the overall reduction and drastic change to paladins over the last two expansions.