Watching that video just brought home how much this is going to be like Baldur's Gate. Ugh. I hate that game. Hate the real-time with pause combat too.
..... But it's Obsidian, so I still have faith. Back in the day, despite hating Baldur's Gate, I still had a blast playing through Icewind Dale with my friends. And Planescape: Torment by myself. And then later, despite hating Neverwinter Nights, I loved Neverwinter Nights 2 despite it's clunky interface and combat engine. And then later, despite not like the Dungeon Siege games, I had a great time playing through Dungeon Siege 3, and actually enjoyed the world building and story, despite it being set in the same crappy universe as the first game. The only Obsidian games I still haven't been able to get into have been MoTB and Alpha Protocol.
My point being, yes, it does look very much like Baldur's Gate. But despite that, I think if anyone can make it fun for me anyway, it's Obsidian.