I think there are pluses and minuses to each way of doing things. I know it is out of genera here, but if you look at final fantasy 12's battle system vs all the other ones, it makes an interesting change in the feeling of how you are playing.
In 12, the combat ceases to become turn based, meaning I do not pick which spell to cast on which guy in what order. Instead, I control my main guy, and set up a series of actions for my companions to partake. At any point I can pause a battle, and issues specific orders to any unit and take control of who ever I want. But generally you only did this when you got into trouble and you need to micromanage things.
The result was that I was running around with what I thought was a very well oiled killing machine, but at the end of the day, I didn't really get a great picture of who was doing what. When you select each person, watch their attack animation, watch the damage they do, and damage they take, you get to really know your units personally. When they they are moving in a pausable real time setting, you really don't get to know your units. Generally, if you want to take the appoach of playing a continuious game in a turn based setting, it is a pita and really does make it a lot longer then if the game had been created from the start with a turn based setting in mind.
A game that really makes turn based combat go "fast" in my opinion is fire emblem. There are a huge set of tools for you to know where your guys are going to move and what could happen. There is some randomness, but ultimatly you are going to know what is about to happne, and know ahead of time when you are taking a large gamble with your troops. Turn based battls just force you to think more by their nature of what your moves are going to be, and how your troops will be formed up. Real time games you seem to spend that time you would thinking about a move, trying to keep your guys moving the way you want them to go to get into position, sometimes causing you to pause and think about things way more then you would have in a turn based game. Unfortunatly, moving across a large map in a turn based setting when there is no combat sucks. Flanking in turn based game sucks, it just takes too long. Fire emblem had some tools to deal with that, such as rally points and group move type behaviors, but still, it seems as a trade off.
Master of magic did stand out from the crowd for its tactical battles. I think one of the intersting things about that was that you would sometimes fight with a stack of 6 or so guys for one "unit" and watch them wittle away, against stronger units that were fewer in number. Age of wonder's failed to capture this feeling, as each unit was a person of it's own accord, and concequently, you never felt like you were dealing with a large empire, and instead a lot of micro managment.
Now, I'm not sure what continuous turn means. It could be in lue of the simultanious turns we see as an option in many strat games. This could be say, my unit can move 4 hexes forward and attack twice for this round. As soon as this round starts, I move the unit right away 4 spaces, and attack someone twice. But my opponent waits around to move. I can't move again until my enemy passes his turn or moves his guys though. So I think that's what they mean by the simultanious turns. It's turn based, but you all move at the same time. I tend to not like this as you still have to rush sometimes if you say have an attack bonus with your guys to make sure you hit first before 10 of your guys are down.
I understand though that a turn based battle, for a large empire, with like 10 battles to fight a turn, will really bog things down, when a lot of those are fights you probably want to autopilot, but still need to babysit. I think the developers understand this though, and I am pretty confident their first offering will be a good balance between all these tradeoffs, and if it isn't, we'll have enough constructive advice to make sure it works! 