I think its a great idea to have all the dialog voice acted. I don't think it causes to great a problem to over come. All that happens is it opens up a new job role in a mod team, VOICE ACTORS.
All would be needed is for quest modders to post up a 'voice actors needed' thread and prospective voicers could get a script and a character personallity profile. And they'd be set. I think this is the best option because you can possibly get the most diverse accents. Just think having the part of a nord played in thick glaswegen accent or something

Alternatively record your friends and family for the voice roles. Someone also mentioned a voice modifer program for tweeking.
You don't want to listen to your dad's voice everytime you speak to that mage do you.
Then that still leaves the problem of seemlessly adding new dialog to existing NPCs. As RobRendell has addressed. The best options would be to have someone who could mimic the voice well enough, in all likely hood that'll be difficult in most cases. might work with some tweeking. still this all adds up to lots of work *sigh*