If you are going to nerf divine grace it shouldn't be done as part of buffing paladin since it in no way helps paladins.
There are other splashes that should probably be looked at the same time as the divine grace nerf so that all splashes are nerfed at the same time if you think that is good for the game:
2 monk - definitely the most uber splash in the game - 2 feats + evasion + access to all stances + favorable enhancement changes
2-4 fvs - basically for very favorable enhancement tree
2 fighter - 2 feats and access to enhancements
2 rogue - evasion + max UMD and trapping capabilities
The other thing is that if you are going to start ruining builds, just get it over with and make the changes all at once. In other words, if you are going to cut off my hand please don't do it one finger at a time. I will have to change my build after divine grace nerf. Then when you get around to nerfing 2 monk I may have to change my build again. It wasn't too long ago I had to redo my characters due to the enhancement pass.
I don't mind change, but a nerf that doesn't help paladin shouldn't be part of an exercise to buff paladins, it should be part of an overall balance review at the same time all splashes are looked at.
Lastly, balance nerfs should be done after fixing favorable game bugs which are much more powerful than any of these splashes.