Is it possible to play an explosives guy in a reasonable pace while having companions, without blowing your companions up all the time and having to reload every fight about 10 times?

hummm.....

You need high charisma and that perk that reduce the damage on companions (forget the name)

Use the wheel to comand they to stay away from you.

Upgrade Ed-E for the armor not the weapon.

Yeah, it′s possible.