CTB is 1000x times more rewarding in the entertainment/adrenaline factor to me, and is very good for ambushes and stuff like that.
There's almost no question that at some parts in the game you will almost undoubtedly HAVE to switch to TB, though, as some battles can get pretty damn frantic.
**Small spoiler about mainly inconsequential and unimportany events and sidequest 5th or so mission below**
The first time I had to was in the quincy deathclaw attack on the ghouls, I got slaughtered by both my fire and the enemies, and the ghouls died in CTB mode. In turn based mode, I had more time to set up my positioning for the assault, and I was able to make use of the targetted shots, which lead to the death of the deathclaws, and not a single life on my side (including the ghouls) was lost. On a side note: I've found that the most rewarding sidequest to complete in the entire game, since you get babs the theif in your character pool at the bunker. She is the only theif in the pool so far in my game, and she's gotten me over 17000 worth of money/stimpacks stolen from 1 bunker, and also stole all the med lab's doctor's bags, which weigh in at 4000 each. She is a true godsend.
** Spoiler ended**
To sum it up, I find the game much more enjoyable in CTB (I would have hated St. Louis in TB, but with CTB it truly kicked ass), but I really urge you not to overlook either mode. TB and CTB both have their glaring advantages, and the most enjoyable way to play the game would be a healthy mix of both.