Questing Knight or Cohort?

[Leviathan of Maddoc]

I think cohort, and here's some reasoning;
-Knighthood is socially the same as an equivalent church or guild rank but it means much more to nobles. Those of noble blood who serve the emperor are probably uptight enough about the emperor elevating people to join the Order of the Phoenix but giving someone knighthood after they turned on their house would ruffle a lot of feathers.
-The Order of the Phoenix also needs guilders, and making someone swear fealty to the Phoenix Throne pretty much cuts them off from any of the resources and information networks of the League and if the person was a valued member of their guild it makes it look like the Emperor is poaching talent, hence the whole point of having Cohorts in the first place.
-While most PCs are exceptional by nature the Order of the Phoenix are exceptional exceptions. They have the pick of the brave nobles of the known worlds to serve as their knights, why would they choose to elevate someone who forsaked their formal education as a noble to serve in the role of a noble? Especially if they could still retain their service with a more modest retainer as a cohort.