1. Knights can deliver more damage
2. learn grandmaster armmaster
3. grandmaster repair item
4. you can choose alot of weapons including spears,axes and swords.

Monk

1. Learn Magic but they wont be good spell casters!
2. Master disarm trap
3. Higher armor class? (leather armor + dodging)
4. New class in MM7

I got the folowing text from this site.

http://www.celestialheavens.com/forums/viewtopic.php?t=7156&postdays=0&postorder=asc&start=0

Well, it depends if the Knight learned the GM Armsmaster skill in Eofol. If he didn't, the monk can outdamage him with Master Unarmed and a +17 Unarmed item made with GM Enchant Item.

However, I've completed the game 5 times and done many tests, and I've found that in damage, NOTHING, NOTHING can outdamage a Knight with:

GM Armsmaster, pumped as high as you can
+17 Armsmaster item, enchanted with GM Enchant Item
A Swift Mighty Halberd in the right hand and a Swift Duelist Blade in the left hand
Skill level 7 in sword (minimum) and about 10-11 in spear (points are better spent in Armsmaster after this)

At level 77, With Day of the Gods and Hour of Power on, Leonidas the Champion is doing 131-152 dmg.
Without these spells, he can do 104-125 dmg.
He could do even more if his weapons were enchanted with "of Infernos" instead of "Swift".
I challenge any monk at that level to beat that !!

If you find that your knight has already reached the maximum attack speed, you can substitute the "swift" enchantment for something else (of Infernos, Vampiric, Dragon/Demon slaying, a good artifact/relic etc)

With this setup, your knight will hit harder than anything, AND faster than even a Monk or Thief with GM dagger (I've tested it. GM Armsmaster REALLY is that good, it provides unholy damage and recovery reduction bonuses).

By the way, +17 Armsmaster or +17 Unarmed cannot be obtained in chests/shops, only GM Enchant Item can get it that high, and +17 is the highest I've ever been able to go, doubtless some people managed to get even better.

Hammerhand SUCKS. It does NOT add the existing Monk's unarmed damage in Body damage as the spell documentation says it does. It only adds the skill level of the caster in Body magic. So, a Cleric with Master body magic level 7 will add a meager 7 Body damage to the monk. Plus, many enemies are immune to Body damage. Numerous tests were made to confirm this.

Fire Aura and Vampiric Weapon are SUPERIOR to Hammerhand in every possible way. Fire Aura is the best spell early on to get rid of those pesky Oozes (sparks is good, but mana does run out).