I may have missed it, as this is a long thread, but has anyone mentioned the x-com series? I'm, of course, showing my age, but that was a game that demonstrated the strengths of turn-based combat games:
-Requiring good strategy based on squad abilities and given circumstances
-Assessing threats through (admittedly slower) exploration and use of topography
-Removal of the panic factor - I'm not a SWAT Team member nor does every game need to require razor-sharp reflexes when good strategy can suffice - it is a game after all
-Effective implementation of instant reveal gameplay (i.e. you walk around a corner, an alien is there, if you have enough move points you can take a shot, vice versa, etc)
-Increased emphasis on pre-mission load-out and balanced gameplay
Are turn-based games more boring/less exciting? Perhaps; it's a question of temperament, most likely. I think the disappearance of the turn-based game has diminished some of the creative palette for contemporary game designers. Moreso than the extinction of side-scrollers or fixed point-and-shoot genres, as those were more tied to the technology of the time. I admire the Total War series for creating an effective hybrid, but there are (I believe) many opportunities for the re-emergence of turn-based games which can offer richer gameplay immersion than some of the better RTS games.
It does, of course, lie with personal preference and it seems apparent that most gamers are content to have turn-based games mostly absent from current offerings. But I do feel strongly that there are opportunities inherent in re-claiming the turn-based gameplay model that would prove very rewarding to a large segment of gamers. The sacrifices of slow(er) gameplay and less(er) immediacy can easily be overcome by compelling, strategic choices that avail themselves when a player has the luxury of time to make those decisions and isn't forced a hand at all times by, say, a Zerg rush or its equivalent.