I saw this and wondered just how much of the monk's abilities are tied to being unarmored. I know the slow fall, monk bonus AC, and bonus speed is but are there any others? Since most of the time a paladin is usually armored.
Just check the monk class features. Monk :: d20srd.org
You lose AC bonus, fast movement, flurry of blows, evasion (light armor is ok for Evasion) and improved evasion, and...that's it. Still a lot to throw away.
Don't even think of doing Ascetic Knight without the Serenity feat is my advice. That feat, from Dragon Compendium volume 1, ties all of the paladin's abilities to wisdom instead of charisma. So you "only" need strength, dexterity, constitution, and wisdom then at least.
[sblock]SERENITY [GENERAL]
Your wisdom, inner calm, and sagacity fuels your class
abilities rather than your force of personality or will.
Prerequisite: Divine grace.
Benefit: Use your Wisdom bonus in place of your
Charisma bonus for purposes of divine grace, lay on
hands, smite evil, and turn undead.
Normal: The abilities use your Charisma bonus.[/sblock]
Don't even think of doing Ascetic Knight without the Serenity feat is my advice. That feat, from Dragon Compendium volume 1, ties all of the paladin's abilities to wisdom instead of charisma. So you "only" need strength, dexterity, constitution, and wisdom then at least.
What, exactly, do you want to get from your combination?
I ask because there may be other ways to get what you want without that feat...or without levels in Monk at all.