I am a big fan of procedural (infinite) content, but even I don't think this could work in a game like this.
Without full focus during the design phase on procedural generation infinite content is out of question. Pillars of Eternity, as is stands, is a game that will always be limited and pre-scripted. You could dynamize some aspects of the game to some extent, but this would require different approach and some tech that's pretty experimental at this point in time. I am talking about AI, internal logic and game's engine. All have to work together if a non-scripted RPG game is to be made.
There was the project to advance storymaking in an RPG genere, but sadly it got little attention and it's now on hold. So, for now, pre-scripted and finite content will have to suffice. I only hope game will have enough pre-scripted options to accomodate all players and will be different a couple of times I decide to do something different, not "say something different and you'll get the same outcome, because we are lazy" thing.