Counter argument time:
8-Ball: Looks like Diamondback isn't here.
He sighed as he, and his friend override entered the room.
Overrider: I'm sorry man.
He placed his hand on 8-Ball's shoulder to reassure him.
Personally the effect can be the same, sure story format flows better I supposed but I think you can compensate the emotion bit by putting an emphasis on how the characters movie and react between the dialogue bits. I also feel bad story form writers usually just do he said, she said, he yelled, she yelled, over and over and it makes the dialogue feel incredibly one note and/or repetitive.