Excellent post OP.
However, I think this guy says it right there:
I think that's precisely because of being a different medium that they should aim for a balance between the two; they offer different possibilites and complement each other very well.
I think Baldur's Gate II did it right. You'd get the initial lines voiced and the rest was all text. The result was long dialogues with lots of nuances, but with a good ammount of dialogue, both casual-banter and plot-essential ones, resulting in everlasting dialogues, memmes, etc. ("Go for the eyes Boo!"; "Luck be a Lady" etc.). Look at Jim Cummings (Minsc's voice in BG), the guy is all over Skyrim and a voice like that adds up to the immersion.
Curiously enough, I think Skyrim would be a good game for a system like that. I agree with the others that said a game of this magnitude in terms of graphic immersion would be weird, to say the least, without VA dialogues. I think if they focused on the initial lines - to get us going, sort of like setting the tone for that NPC - we would do the rest with our minds.
I doubt KOTOR or Dragon Age had more dialog than BG, yet both of them were fully voice acted.
Thing with Skyrim's dialog is also that it feels realistic, not a completely different part of the game where everything else stops, background still moves, the character emotes and the like, with text you HAVE TO pause the game even if not it is a noticeable difference in perspective.
There's just no real advantage of text-only dialog compared to voiced ones. The size-budget is not exactly a big issue with Bethesda, there are all kinds of compression techniques for this and they can always just release it on multiple disks if needed or download the extra files.
The Dynamic part ends with seeing your name appear, even though you never actually introduced yourself, text is still needs to be typed in and it cannot create anything more dynamically than mentioning different names.
And hearing the same voice over and over is hardly any different than seeing the same text without any change over and over...
EDIT:
Written things don't have acting
Written things can have any kind of acting the reader imagines.
Not the same, not even close.
There are things that you just cannot imagine without reference.
you cannot measure the tone certain sentences are said
Conveying tone and context is job of the writer or is it your opinion that all literature is devoid of context, presence and tone? In addition video games may supplement the written word through the use of visual and audible elements.
there are no accents, no emotion, no hidden meaning unless the text itself tells you about it.
See above.
Yes, it is more possible in literature, but even there it is about the writer telling us these directly, while in a visual-audio medium there's no need for this.
Especially in video games where just the plain spoken text appears.
And those visual/audible elements... that's what voice acting does.
You won't get better directions in written form if the person moves away from the original spot
"West of the main Riften gate..."
"From the ruined tower south of Whiterun, I'll mark it on your map, turn East and ...."
"Let me mark it on your map"
Are examples of directions which are independent of NPC location :shrug:
And these cannot be voice acted, because...