I like the idea that your actions actually have consequenses. This adds alot to the replayability (or it should anyway).
But I wouldn't want simple conversations to have a big impact. In Gothic 3 I was talking to an escaped slave, I wasn't planning on bringing him back to the town. But since I didn't know that slave, I didn't trust him, so I didn't tell him right away that I would take him somewhere safe. (For all I know he could be an undercover orc mercenary, right? <img src="/ubbthreads/images/graemlins/winkwink.gif" alt="" />) So I said something like: "hey, you're escaped slave from that town right, I've been told too bring you back" and suddenly getting him to safety wasn't an option anymore. So I think actions->consequenses like that are kinda lame. Not all the good guys are always friendly.
Accepting quests/missions also shouldn't have too big of an impact, maybe I would just check it out or accept it while I rethink if I really want to do it.