...hmmm,
I don't know about anybody "discovering" this combo...but I have used Huss leading IC, great weapon wielding, warbanner having knights with with great success.
If you can find the room for an extra special slot in your army you should at least give this unit a try. I have had them destroy Shaggoths, decimate Orc units, and crush charging undead black knights. The only real time I had a problem with them was when I charged a fully ranked up unit of dwarves led by a BSB equipped with the warbanner. THis unit broke my knights, but they got away and managed to get a flank charge later on.
Remember...if you take Huss in this unit, he causes fear so he and the unit he leads are immune to the effects...this is pretty handy.
However, Vanilla knights are great for all kinds of battlefield roles. I almost never build an army without at least one of these units. They are particularly useful for negating ranks (this is where the high movement and 1+ save comes in really handy) and protecting your flanks.
Morghor (sp) Master of Skulls is also cheesy.