Sorry, that's the way Mass Effect 1-3 handled it and it's how every Bioware game from now-on will handle it, I suspect. The wheel is more to design your character, rather than to affect events.
I wish that were the case.
With the paraphrase, you don't even get to design your character. I had no idea what Hawke or Shepard was going to say, most of the time. So I didn't get to design my character.
The DA2 icons, though, did give me a good idea what reaction I was going to get from people (something I don't think I should have), so I would argue that the wheel is more about affecting events and less about designing your character.
I would be perfectly fine with the different dialogue options leading to the same outcomes, as long as I actually got the choose the actual dialogue option, rather than some crude approximation or blatant falsehood in the form of a paraphrase.
If the paraphrase says I'm going to ask a question, I should ask a question. I should not make an assertion. Those two sentence types are incompatible.