I'm perhaps in the minority in this, but I'd actually really like to see Chivalry largely maintained and most of the differentiation put in via whatever replaces forging.
I've always liked that we have these classes with vastly different ideologies, but some very similar basic beliefs, and the setup with shared chivalry and then a skill that isn't shared does the same thing - it's a great example of the mechanics reinforcing the theme. It creates a neat roleplaying situation because the Infernals and Paladins can still have their "we're not so different you and I" thing going and I think it does some good in driving rivalries between them.
Edit: And I actually agree with not having the third skill be magical in nature if possible. The unique skill of each knight class is already magical - having a third magical skill seems to me to risk making them feel more like sword-wizards and less like knights. If things like mentor/protege blessings are going to be worked into Paladins (which is a fine idea), they should just be put into Devotion, further differentiating it from Priest devotion (I wouldn't say replace Devotion with Blessings though - the shared skill thing is still neat, just as with Magi/Sylvan).
RE: Knights. I say give them a choice, somehow, of specializations. Tons of basic abilities, but say,five or so 'specialized' abilities for each weapon. The same ability, but unique flavour text and can only use them with the weapon you specialized in.
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Honourable, knight eternal,
Darkly evil, cruel infernal.
Necromanctic to the core,Dance with death forever more.