My take is that Fervent Champion is good in the all-knights deck because it has good enough value with the +1 trigger later on and there's nothing better to play as the red one-drop. Outside the dedicated knights deck, I just do not envision it being high-impact enough. Maybe I'm wrong, but I want to see proof of it being great outside the knights deck first. I think there are other better red one-drops for Cavalcade decks.
SC2K13 Bracket: Kefka hate hate hate hate hates my bracket! Oracle: Team Frog and Magus