I think at least some functionality must remain when the game is paused, such as being able to spend points and compare item stats. The only actions which could logically be disabled are combat commands, equiping items and reading. These all take place in real-time logically. I wouldn't like to see them go, but I'd accept it. And besides, anyone with their hand on the pause key can un-pause and pause the game quickly and give commands inbetween. I think it should be left as it is.
