The Cataclysm beta is, naturally, still in a state of flux, but I think the current build has enough information in it that we can infer what Blizzard's design intentions are for the protection paladin's single-target tanking rotation in Cataclysm.
The first things to notice are the importance of two medium-duration buffs: Inquisition and Holy Shield. Holy Shield has been changed from it's current, 100% uptime implementation to have a 1 minute cooldown with a variable duration depending on holy power: 10s base, +10s for each stack of holy power consumed, for a maximum possible duration of 40s. Inquisition is a percentage increase to holy damage, which means a big buff to protection's threat output, with a variable duration of 10s per holy power and no cooldown. These will likely be our top priorities. We will want to get as close to 100% uptime on Inquisition as possible, and we will likely also want to hit Holy Shield every time its cooldown finishes, but only when we have 3 holy power.
This has significant implications for our rotation, because it means that we need to generate holy power at a rate of 9 per minute. That comes to one every 6⅔s, or every 4-5 global cooldowns (GCDs). Since Crusader Strike (CS) is our only attack that generates holy power, that means it'll have to fit into our rotation, despite being physical damage and so suboptimal for threat (since it powers Inquisition, it does indirectly provide holy damage, in addition to seal procs). The new Grand Crusader talent gives Shield of Righteousness (ShoR) a chance to end the cooldown on CS and give it a significant buff to damage, which means we will want to hit CS in conjunction with Grand Crusader procs whenever possible to generate holy power. Since it's only a 20% chance and ShoR has a 6s cooldown, we will have to use some non-buffed Crusader Strikes to generate sufficient holy power.
ShoR, in addition to providing a buff to CS, will also likely be our hardest-hitting spell once more in Cataclysm, and so will probably be our highest priority spell once holy power is taken care of. The new Shields of the Templar talent makes our ShoR crits cause our next Judgement to automatically crit, Judgement has always hit relatively hard in our rotation, and of course Judgement is important for keeping our attack speed debuff up on our target, so Judgement will probably be next in priority. It's possible the numbers will be such that Judgement will be higher priority than ShoR, but I imagine that this is not their design intent. (Evidence: we have a talent that makes ShoR crits buff Judgement, and if Judgement is too good, getting the cooldown reduction talent in the retribution tree may seem mandatory, which I don't think they want as it's not easy to get.)
Hammer of the Righteous (HotR) has had a 6s cooldown ever since being introduced, but for now it has no cooldown in the Cataclysm beta. This suggests that it is meant to be a low priority spell, used to fill GCDs when ShoR and Judgement are on cooldown and holy power is taken care of. It will probably be better for threat than CS if we don't need holy power, being holy damage.
Based on the above, it looks like protection paladins will want to rely on the following priority list for single-target threat in Cataclysm (with the caveat that things can certainly still change dramatically):
1. Make sure Inquisition is up
2. Holy Shield if holy power = 3
3. Shield of Righteousness
4. Judgement
5. CS if you have a Grand Crusader proc or if the duration of Inquisition or cooldown of Holy Shield is almost up and holy power < 3
6. Hammer of the Righteous
Of course there is some vagueness in this list, because of the "almost" in #5. You may want to start prioritizing CS over HotR with even about 12s left before you need holy power, if you have 0, because of the 4s cooldown on CS and possible cooldown conflicts with ShoR and Judgement. But you also won't want to prioritize it immediately upon reaching 0 holy power, because ideally you'd like to use CS only when Grand Crusader procs. This might be the "too much complexity" that
Ghostcrawler is worried about.
A simple way to fix this to make protection's rotation less complex would be to make HotR generate holy power. Since protection uses holy power only to maximize buff duration, this wouldn't be overpowered, and it would simplify things a lot. They'd need to then give us another reason to hit CS occasionally, presumably through a proc mechanic (Grand Crusader might not be enough on its own).
On second thought, I think a more elegant solution would be to make Grand Crusader increase the holy power generation of CS from 1 to 3, in addition to or instead of buffing its damage done. A 20% proc rate on ShoR, if ShoR is used on cooldown, would translate into an average of 2 Grand Crusader procs per minute, or an average rate of 6 holy power per minute. This is not enough to
both keep Inquisition up
and use maximized Holy Shield on cooldown, but perhaps that would be a good thing from a design standpoint. It would force protection paladins to make choices during battle: do you change up your rotation to work in extra, unbuffed Crusader Strikes, or do you forego the some of the threat bonus from Inquisition or some of the mitigation from increased Holy Shield duration?