Even though more limited, awlpike + shield can also be effective in a way, since you get +50 bonus to range IIRC, and you are protected/can protect others with your shield. It's also sheathable, so I don't know why there are shielders with 2slots free that don't have something like an awlpike to back them up.
I think it's more the whole lance thing in general. Get even slightly poked, and the stun is enough for opponents to quickly surround you and/or hit you again.
I think 1 attack direction would be fine. I can say from experience 1 direction is still pretty good given the massive range.