I wouldn't be surprised if it is turned based where the turns are then enacted in real time:
ie. Everyone chooses the actions for the turn, then once all actions are chosen, the turn activates!
BUT I think Larian has already chosen the style, and will stick to it!
The fact they have said they will show the combat (in my opinion) means they have already chosen a form, and knowing the significant value placed on the combat form, are not willing to say either way until they show what they have come up with.
Arguing over which is best is probably moot! (although RtwP is obviously best ... hahaha!!!!)