I played Kotor. They also made Baldur's Gate and Neverwinter Nights, correct? Anyway, I think the dialogue is a little more concise than in Kotor. Kotor was way too long winded for my taste, and you always had your teammates running up to nag you about their personal history. Still, it isn't mind blowing stuff in Mass Effect, but I think it's suitable and gives you just enough options to make it add something positive to the game.
Yeah, that's essentially it. Bioware has always been very solid, but they were never as inspired as, say, Black Isle or any of the companies that broke off from them. On the other hand, Bioware was also a lot more technically talented -- imagine, an RPG that didn't have a dozen broken quests and crash to desktop errors. One thing I sort of miss in ME is how you CAN'T interact with your teammates if you're not on the ship. Any other time and you get a one line response. Not even for a 'What do you think about this?'.
I highly doubt I'll hit 60 before the game is done, but I'm trying to pretty much do everything as I go. So far I've completed every secondary quest I've had before I've continued in the main story.
It's not possible on a single playthrough. You're locked to level 50 on your first playthrough. By hitting 50, you unlock levels 51-60. Nothing exciting, just more points, and a better chance to get the spectre X weapons.