Beacon of Faith (BoF):
PRO:
Heals both tanks
Save mana by having reduced mana costs anytime I direct heal a tank
Being in melee means we avoid many of boss mechanics

CON:
Mastery practically makes us be in melee
Reduced effective range healing


Keep in mind BoF also reduced the beacon ...

Great post! However the Tier 7 talent Beacon of the Lightbringer should you take it, which in my opinion it is one of the better choices in the tier, makes it so you can be melee or ranged depending on where your beacon is placed and still hit the majority of the raid with your mastery bonus ...

If I remember correctly the Holy Pally artifact weapon has a slot that reduces the damage taken to the paladin using BoS. Not sure if its been changed or how much of a reduction it is but I know it existed