Even though the Way of the Monk's primary purpose is to provide a new playstyle, I have incorporated several ways to specialize your character.
1. Classic Monk
There is, of course, the classic fantasy-genre monk that wields no weapons, wears no armor, and heals his fellow warriors. Either the Pillar of the Healer or the Pillar of Aptitude are for you. The Pillar of the Healer's power automatically heals nearby allies by 3 points per second. Used with a follower-enhancement mod such as UFO, this will be especially useful. The Pillar of Aptitude does not give you any special powers, but instead increases the speed at which your Monk skills level. This classic character-type would use both of my new skills, as well as take advantage of the new weapons. To raise your player level and to survive for the first few levels, I would also suggest taking the time to improve your Restoration and Aleration skills.
2. Strangle 'em!
Want to sneak through the shadows and surprise your enemies with a stranglehold? With the latest patch from Bethesda, a ton of new Unarmed killcams have been added, including a number of which are specific to stealthily killing someone from behind. Just adds another level to your awesomeness. Finding the Pillar of the Shadow Monk would be my first deed. Read "the Pillars" at the Pillars of the Way for a riddle to find its location. The Pillar gives you a Backstab-like effect that multiplies your sneak-attack damage by 6 with Monk weapons. For you Unarmored assassins, it also fortifies your Sneak by 10 when you are not wearing armor. If you are going to play the part of a blade-less shadow killer, you might want to consider playing a Khajiit to get their Unarmed Damage and Sneak bonuses.
3. Magical Monk
One of the uniquenesses of this mod is its Unarmored features. In the vanilla game you must rely on your spells or talent in avoiding attacks to survive blows from your opponents. But with Way of the Monk, you can use the Unarmored perks to raise your chances of survival, and the Unarmed perks to fight in close combat. The Pillar of the Elemental Monk would be the most beneficial for such a character, since it gives you a resistance to magic when unarmored and lets you deal elemental damage to enemies with your attacks. Use whatever magic skills you desire in combination with my own new skills.
4. Tough Pugilist
Perhaps you just want to be a metal-encased warrior that beats his enemies into submission with his fists rather than a warhammer? Go for it! There is no specific pillar for a heavy-armor or light-armor monk, but I might suggest using the Pillar of the Wielder that multiplies the speed of your Monk attacks by 3 once a day. Use either of the vanilla armor skills that you want. I would suggest getting the Fists of Steel perk if you are a heavily armored Dovahkin.