The stats on Templar's might are:
Defense: 1622 - 1923 (+ 250 - 300 vs. missiles)
Strength Req: 232
Level Req: 74
+ Strength: 10 - 15
+ Vitality: 10 - 15
Hit Recovery: 20%
+ Stamina: 40 - 50
+ Offensive Auras (Paladin Only): 1 - 2
What are the stats on yours?
Looking at this, what stands out to me, are the strength requirement, and the defense. Maybe a really defensive build would be the best use for this armor.
Maxing Holy Shield (surprise) and using defiance would give you a really high defense. 20,000?
e.g.
defense = base defense * (1 + holy shield bonus + defiance bonus)
defense = 3000 * (1 + 310% + 260%)
defense = 20,100
* assuming level 20 skills.
This page has some useful Paladin info on it:
http://www.hut.fi/~tgustafs/char5.html
If you're lucky, you could try an Exile shield. This would allow you to have another
aura (an offensive one) active and still maintain most of your defense.
Note, that there is a built in strength bonus on the armor, so you only need 232-x from stats and other equipment. Since you are hardcore, you don't have to worry about picking up your corpse. :) Also, you could put a HEL rune in it for -15% requirements. This would be 197 or 198, which is slightly better. Either way, it isn't too hard to get 50 strength points from equipment.
You could try one of the overpowered Hammerdin's, but where's the fun in that.