Ah, a good topic, even if it apparently has been discussed to death already? Well, if nothing major can be changed anymore because of reasons, I'm hoping that at least a mod will come out of this to address intuition issues.
First of all, though, I commend Obsidian for having mostly succeeded in fulfilling their dream of a no-dumps stat system. I love what they have done to INT in particular -- making it more of a tactical application sort of stat, like AoE that avoids friends. I'm also pretty happy about most other main stats.
However, I'm one of those who don't like the concept of Might at all. Might, as a main stat, is inherently flawed, because it's not a main stat: It's a derived stat. Similarly you could have a main stat called "Defense" that lets you defend against all sorts of different attacks -- same reasoning ("strength of the soul"?), but it wouldn't make much sense either. That's why we have secondary defensive stats like Deflection, Reflex and Will, which are increased by actual main stats. As a secondary stat Might makes much more sense IMHO.
The primary problem is that Might as is effectively means "Physical strength = mental/spiritual strength". But those are a) completely different things and b) Might with the meaning of "strength of the soul" with physical applications isn't used consistently in the game at all. In Dialogues and descriptions, it's basically a strength check. Even class descriptions hint at a fairly clear distinction between mental and physical powers:
I just don't see how physical strength could play a role for them. And as others have already said, there's a very fitting stat for mental strength already: Resolve.
Maybe the issue of extreme dump stats could be alleviated by making STR give 3/4 extra physical damage and 1/4 magical damage and RES give 3/4 extra magical damage and 1/4 physical damage, or something along those lines. Either way, for me flavor, sense, intuition and theme are more important than completely avoiding dump stats no matter the role-playing cost.