Following Uulaa's advice:

I have 5 existing accounts - A to E - I want to end up with 4 Paladins on Accounts B to E.

Account A - 79 Druid - Booster
Account B - New Paladin
Account C - New Paladin
New Account - RAF Link to B - Throw Away Account
New Account - RAF Link to C - Throw Away Account

Boost these guys to 60 (with the aim of keeping the Paladins on B & C).

Now is the part I don't understand about granting levels. I understand that the character on RAF accumulates 1 Grantable Level per even lvl gained, but are they able to grant ANY char who is lower level and <59 these levels? If so...

Grant a New Paladin created on Account A 30 + 30 levels from Accounts B & C.
Grant a New Paladin created on Account B 30+ 30 levels from the 2 Throw Away Accounts. Cancel Throw Away Accounts. I will have 2 lvl 60 Paladins on Account B.

Subscribe on Accounts D & E. Transfer Paladin on A to D. Transfer Extra Paladin on B to E.

So I would end up paying for 2 Vanilla Accounts ($~10) and 2 Transfers (~$50). I would end up with a 60 Paladin on Accounts B, C, D & E, which would have been boosted using RAF at the time cost of boosting a single group.

This sound right?