I want a button that pauses. Nothing else; just pause. It would be nice to have an unpause button too, but the toggle pause/unpause button can be used for that.
For instance, it would make it possible to use the auto-pause feature. I would not accidentally unpause the game by hitting the pause/unpause button.
As an aside, it made me remember that Bauldurs Gate had pretty bad combat too. Engaging story, bad combat. Maybe it's not possible to have both interesting combat and story in the same game...