The above combo works even better with "Magical Exemplar", or even both if possible.
You can use "Pitch-Black Power Stone" to give Spell Counters to this card (or "Magical Citadel of Endymion" if you are using the above strategy). The Power Stone can be revealed/chained during your opponents turn to a destroying effect to enable this card to protect your spellcasters.
You can constantly disarm Tower of Babel by using its spellcounters for the protection effect of this monster. The Tower will be recharged if either player uses spell card.
Chain a card that can summon this monster to an opponents effect activation (i.e. Magician's Circle or Magical Dimension ). After the summoning the effect of "Defender, The Magical Knight" can be instantly used to protect your monsters from the resolve of the opponents card effect (if you already have another card with spellcounters on the field that is).