Don't compromise: All those small lower-bonus items are shortly going to wind up being sold at a loss, because upgrading your kit is going to eventually require you to replace that item: The longer you can postpone having to replace an item, the better, and the larger the bonus is on the item, the more likely you are to keep it indefinitely. Whereas a lowly +2 is likely to surely be earmarked for replacement at some point, a +4 may very well carry you throughout the character's playing career.
Also, raising your Chr, for a Paladin, will boost your active mechanics. Boosting your AC only provides a tiny benefit to a passive mechanic that you have no real control over anyway. Thus, your ability to leverage this is minimal. +2 to AC has basically minimal effect.