It can be amusing to hear a Companion's vocalizations when we encounter a new area, or a new foe, etc.... and it can be handy to have them alert me to dangers (had Vanessa, a mod-companion, remark, "Am I glowing?" because we were being saturated with radiation).... all too often they're setting off mines or attacking foes that I did not see (pulling in a LOT more foes) and otherwise being more trouble than they're worth. I also like feeling like the hero, and when my Companion(s) mow down everything ~for~ me, I feel like, "Why am I even here?"
In Fallout New Vegas, at one point, I had Willow, Vanessa, The Handler (mod companions), a temporary companion (from a mod), EDE and Victoria --- SIX beings following me around! Granted, that's because of mods and such, but still, it really hit home why I don't like Companions too much.
One compromise that might be interesting.... have a 'ghost' Companion who basically only served to provide warnings / commentary and did not actually fight at all (or carry loot)... or perhaps a program that speaks into my cyborg brain to alert me to dangers and make wry comments about my decisions and tactics. Sort of a vocal HUD, I guess.