Well, at my current stage in life, I have to agree that this is a rather redundant set: had it come with a helm and normal sword instead of crown and chrome, it would have been awesome. Even in the its current form though, I would buy several if available again: white stallion-mounted, silver-sword wielding paladins aren't all that bad, and helms can be acquired.
I rather like this set for the nostalgia*. It was my first Royal Knights set, and my first king. I was really happy at the time about the release of a king, since I had always felt the sore lack of them in my Black Knights and Crusaders. When I later got the Castle, this king was transformed slightly to become the prince of the Royal Knights.
Design (then): 5.5/10
Deisgn (now): 6.5/10
Overall Score: 6.17/10
*And I have been sufficiently motivated to add another category to my scoring. See it in play in future reviews, as well...