Real time or pseudo real time is really the only good way to have combat. No pure turn-based system can possibly be made that has realistic/good combat. Turn-based combat just has so many silly factors in it that it is, well, silly. Weapons need to be able to fire at the same time. You should never be able to fire every weapon you have in a "round". That makes no sense. Why should you be able to fire all your weapons before the enemy can react? Combat needs to have many, many small, incremental "phases" in order to get any degree of realism. Why not go that extra step and greatly simplify the rules by making it real time? You get the same effects, but without all the baggage of complex phase systems. Why should combat be broken up into disjoint "rounds" anyways? That is very unrealistic, and adds many other levels of silliness to the whole thing. Why can my ships only take action every (insert time frame here, such as minute)? They should be able to act at all times. A combat system where you give orders, and then watch them executed for a given time unit (such as in BOTF) (pseudo-real time combat, btw), is also silly. Is there some magical barrier preventing orders from being recieved at all but very specific time intervals? Silly, if you ask me.
And please, don't try any tired old arguments about pacing and click-festing. The simple solution of issuing orders while paused eliminates all such concerns very nicely.
In fact, this allows you to make combat just like a BOTF-esque system, just with customizeable "turn" lengths. Win-win situation, really. A rather elegant solution for hotseat games would be to have the players agree on a time interval during which the game can be paused, with so much time that the game has to be unpaused. If both players hit the unpause button before the pause timer runs out, the game unpauses. You don't ever play hotseat (only MP game with tactical combat) with random strangers, do you? Probably not. Against just the AI, you can easily take as much time as you want, just like with Se4 tactical combat. And in other MP games, all combat is strategic, so having real time combat has no possible negative effects in such a situation. And don't say the AI making poor decisions is a negative effect of real time combat. Just go watch a strategic battle replay in se4.