So this idea stems from a few places. Initially it came up after reading this: http://sinisterdesign.net/toaster-repairman-the-strange-and-unfinished-evolution-of-rpg-character-creation/
It talks about how combat is the main emergent mechanic in most cRPGs and that is why the skills and game mechanics usually revolve around that. I started thinking about games where combat was not the main mechanic and King of Dragon Pass was what came to mind. I remembered how that game had a strong "events" mechanic where it almost seemed like emergent gameplay. If you apply the same concepts to a cRPG, could you come up with some emergent non-combat gameplay? I believe you can.
Imagine that while traveling outdoors and when changing in between maps in P:E (or as you get reports from the stronghold while traveling), you have certain events that play similarly to events we've already seen that play in certain locations on the maps (the drake egg, or the bridge jump). However these events are more emergent, like those from King of Dragon Pass: where a certain number of events may or may not occur (as they are random) and they would play out like the single screen stories with certain options. You make decisions that either have immediate obvious effects or events that have consequences later (which are not so obvious). Each party member acts like the clan members from King of Dragon Pass which allows you certain options/choices. Then, each of these events may affect certain other mechanics either immediately or later (reduce your health in between map movements, make you use certain limited-use spells, make you lose coin, cause you to fight a battle, gain a treasure) or they may change the ending of the game or certain other options.
Perhaps Obsidian has already thought of this idea and are planning on implementing it. If they haven't, they should think about it.