I share your sentiment that one can get a lot more detail out each fight. Indeed, this also prolongs each fight.
However, I for one feel like the “price is right”, the compromise is definitely worth the time investment.
Due to the more enagaging combat I found myself care a lot more about what my companions are doing, they feel as if they are a more integral part of my strategy. I don’t think getting to this level of detail was possible in the original play mode, even with detailed auto-pause and more advanced (modded) AI scripting.
Aside from the current issues with balance (number actions within the turn, dampened impact of dexterity) I feel like this mode is far superior to the quasi real time based, when balanced properly.
Perhaps with mentioned issues tuned away and some enhancement made to the base unit of turns (turns could be made more action packed IMHO) it to offset some of your feelings about the prolonged fights.