It will get nerfed by Blizzard, it creates too large a gap between "normal" leveling and power leveling - while SM/etc are maybe maximum 2x faster than leveling normally, the Zolo trick is 4-6x faster or more. And it will eventually be used by botters, china farmers, people who ebay WoW accounts, etc, especially as word of it spreads more and more. When you see 20+ 70 pallys in sunken temple, pretty much assume the next week its getting hotfixed (so far on my server just 1-2, including myself :)
Anyways couple more notes, from a paladin doing it. First, as mentioned, your shield doesn't matter. Get a high durability one, and lots of them. I bought the 85 dura ones from Stonard, just so I can clear bags of them if I need. I set my hearthstone to Stonard, and every few hours jump down, hearth back, repair, and run back. I actually do NOT have the trinket from shattered halls and my prot gear is ok (blues + few epics), you have to monitor it more closely and use seal of light + attack skeleton + use bubble every cooldown/heal. I might respec to support imp conc aura + holy talents so you can heal anytime. The most important buff as a paladin is sanctity aura. You do NOT need to attack anything, except to get seal of light going if you want (make sure not to attack zolo or mijan!). You do not need retribution aura either, you can use conc or devotion (doesnt matter much). The skelies despawn after 40 seconds and give XP as long as you did some damage to them, which sanctity aura will. If your gear is good enough you can actually take virtually no damage, but its very hard as a pally since you need a ridiculous amount of dodge/parry/block rating - a epic'd warrior has easier chance of this. Really, really try to get the trinket from shattered halls, it will make it much easier. Sadly 8 runs so far and no trinket for me :(