"Conquers the Crown too, grave and the gown too" doesn't really work -- the sword/might of arms doesn't exactly conquer death itself, and 'grave' for 'gravitas' is too ambiguous. 'Grave and the gowned' to cover academia etc is nearer working but too forced.

It works a lot better the way I've always heard it: "Conquers the Crown too, craven the gown too," which is terse enough to go with the style and sets up the power of the court vs scholars/academia.