I don't like the chaos in RTwP. Everything happens at the same time and the things that happen lack impact, because I mostly miss it and I have to pause and check on every monster to see whose most wounded, who just got hit and the like - messages scroll like crazy and I generally dislike the lack of focus on a specific monster or PC.
In turn-based games, I love the 'it's my turn now!' feel that I get from every single creature, as it becomes the star of the game for a little while and everything is shown from its own perspective. Which is also why I love the new X-COM games as well. You can also control the pace of the battle as you like. And I like how the camera focuses on each creature each time.
In RTwP, you almost feel like a distant observer, where shit happens and no one really matters. There's chaos everywhere, yet at the same time, everything lacks impact.
Don't really know how to describe it.
Great points and this is something that I've always been saying about RTWP.
My own take on this is that RTWP is not very "RPG" like. In RTWP, your speed, your reaction, your ability to be conscientious about what's happening on the battlefield and what's happening to all characters on the screen every half a second is what's focused on. In TB, that is not the case.
The characters' abilities, attributes and capabilities are what are highlighted in TB, in RTWP, it's mostly about how fast you can move and that always puts me off. Not to mention, the enemy AI in terms of reaction speed can always have an upper hand in RTWP.