I've always seen Law and Chaos as means to ends. In a Lawful society, laws serve the community and it's (presumably) shared goals and needs. In a Chaotic society, an individual's freedom to simply be takes the place of laws serving the community. The Tao Te Ching says something like 'the more laws you have, the more laws you need. Trust in people'. I think a Lawful society is afraid of the individual and fears what they might do. A Chaotic society fears the lack of trust from the society of the individual.
The Paladin is a paragon of both law and good. How often do we hear of one rushing off to fight chaos? In a world where evil is a measurable thing, a physical state that one can smite, good and evil become less an abstract and more a reality. Law and Chaos should be the same measurable reality. But just as reasonable people can disagree on ethical paths, morality is very black and white, good and evil. No room to disagree.
I do think that it should be more of an issue. But I don't know how beyong putting a lawfully inclined group in a situation they cannot control or a chaotically inclined group in a situation where their freedom is truncated. Order to impose or tyranny to escape, but these can all too quickly devlove into good vs evil situations.
I'll have to think more about this.