No, I hate the system. Not because it removes content, because if an NPC only had one rumour before they only have one now - but because it distinguishes between quest-important and unimportant NPCs, and makes them immediately obvious as soon as you talk to them. Immersion? Bye.
Again, jumping to conclusions. There's not any official confirmation that states specifically only people who will give you quests will you be able to talk to. Especially when you logically think about the situation and deduce that this is impossible when in the GI article it mentions shop keepers and the likes walking around having a conversation system engage with you while buying goods (which isn't a quest). Thus one can infer that there will be other "characters" in the world that are also like this but might not have ties to a specific quest.
Random filler NPC's on the other hand won't be interested in coversations with you, just people who logically would be (shop keeps, quest givers, special character NPC's). Just like it was in the older games, to a tee. Except now it's all seamless and happens naturally in the game world according to Bethesda.
And one of the things I didn't like about Oblivion and the older TES games is that they treated every NPC like they were someone worth talking to, when in fact most were not (had nothing unique to say). Fallout 3/NV did a great job on this by making it so the filler NPC's didn't engage in conversation with you. This allows the world to be much more populated, in additon to the world being more immersive because realistically speaking you won't and can't really talk to every person on the street and have them wanting to do a formal conversation with you.
The only downside to this is is that it would be great to be able to ask people for directions around a town if you are playing with your HUD off, even if they are random people. Such as, "Where is X person?" or "Where is X tavern?" and they would point you in the right direction or something. But that's a pretty minor loss in my eyes.