As for the original topic, I would also agree that it is more of a Conviction vs Crusade argument rather than a Crusade vs PoJ one. I would definitely say that PoJ is a nice talent to have, and would rather have that over 2 threat points. So, its 2% crit for abilities that can crit, or 2/4% more damage with everything... Crusade definitely wins out IMO.
Now, as for what the rest of the thread has turned into, I like my bouncing Avenger's Shield. If I need to pull a single target I will use either Exorcism or Taunt the target. The amount of initial threat build up that would be different is negligible and not a valid argument as I out-threat anyone and everyone, even from the start. And I will not be using Exorcism in my normal rotation, just in special situations. 969 FTW.
TbtL is a necessary talent as well IMO, it allows for a nice mixture and balance of single target threat from other talents, and multiple target threat from those 3 points. As a Paladin there will ALWAYS be situations where we are tanking multiple mobs, whether it is trash or whatever the case may be, and it is still very useful on single targets as well.
Also,
WoWWiki says: "Holy Shield also benefits from 5.6% of your Attack Power plus 9% of your Spell Power for each charge."
What this tells me is that the amount blocked is based off of Block Value, naturally... And the amount of damage done per block is based off of AP + SP. So technically it scales with Block Value, Spell Power, and Attack Power.
All of that being said, I like your second talent spec, and have done a similar one myself, although I did put a few filler points into Divinity myself, and 3 into HotC rather than Benediction, and both points into SA until I can get used to using Divine Plea regularly lol... But IMO those are minor differences and most of which just vary depending on guild makeup, etc...