While I'll happily sing the praises of Newly Made Lord, we're talking here about 4 gold across two cards and one knelt to achieve the effect.
The reason why NML is an awesome greyjoy card is the inbuilt card advantage (play 1 card, remove 1 card = +1 card value) and the targeted board control (especially in the Harrenhal era). But if it takes you 2 cards in a combo to get there (even if Bannerman is reusable, odds are in most games you won't get to use it more than once or twice), I honestly don't think its worth it anymore.
I can see the argument that if we're running a deck that plays lots of out of house (like the ever stronger Neutral no agenda) then the Bannerman is feeding more combos than just Newly Made Lord, but in that situation I'd be looking in a different direction for location control, such as Condemned By the Council or A City Besieged. I think trying to build in such a setup-weak, icon-weak, poor strength ratio card like Newly Made Lord is a bad idea, outside of either Greyjoy or agenda that plays greyjoy without penalty.
I heartily echo some of the other suggestions though, though its a shame so many are restricted. Be great to have Cache, Pentoshi, Asha all in the same deck, and that would certainly make me strongly consider going Stark, shadow Meera, the above cards, the bannermen, and so on... That'd be one nasty deck.