I would like a hybrid, so if you visit an area I am happy if the map is huge, but maybe it would make sense to have a way to travel, between these big areas
I think the waypoint system is also very convenient if you are on one huge map, but
If you need to pay for horse-cart or ship, or click on a map to travel between these huge acts I would not mind.
My guess is, that it will be a hybrid, after all in the interview they also said, that when they met with the Wizard of the Coast, they had the map in front of them,
and they selected the places to visit, before writing the story.
Of course if you get reason to travel back to Baldur s Gate multiple times or to some city is even better...
You might have some higher level quests, or you might have some secrets to explore, like hiding Liches in abandoned buildings....
Maybe some product is only available from some special shops, which were way too expensive, while you were there...
Other topic, but I would also prefer shops without item randomization and more unique stuff to sell.... xD
DOS2 maps were always very well built, they made such a good job of making sure every area is somewhat interesting,
that sometimes I would even tolerate areas with less assets for pure artistic reasons, just to break the pattern...
Maybe a huge chapel in "Shadow of Ahm", medival style with wall paintings or a dragon lair, where you have a huge space to battle....
Or just a simple farmland with a corn field where sneaking is easy, for you or for some bandits, who attack you in a quest.