Not a bad card, not bad at all. If you somehow can't kill the monster holding this card for more than two turns, your opponent nets some serious life gain. Plus it just passes to another Noble Knight should it get destroyed, which is cool. I always love life effects that don't require you to go out of your way to get them, and this is great. +500 ATK is useful too!
Now for the negatives. 1. RELEASE MORE THAN ONE DAMN NOBLE KNIGHT CARD PER SET.
2. STOP MAKING THEM THE GOD DAMN PROMOS. That would be all.