No, I agree most games don't track NPCs, but on the other hand, most of them tell you explicitly where person X is - like nailing an arrow in your compass in the HUD, or by spelling it out in the quest log.
I find that kinda too hand-holdy for my tastes - an NPC list would at least let me look the person up without resorting to either extreme: explicitly spelling it out for me where to find the person (and if I hadn't encountered him/her before they wouldn't be on the list, so yeah I still have to put in the effort of finding them for the first time), or forcing me to keep track manually by writing this info down outside of the game.
Alternately the Journal could allow players to write down our own notes there. At least this would be an in-game solution. I've played the Exile and Avernum games; for every single game in the series I always have a Notepad text file with a list of towns I come across and NPCs I encountered. Surely there's a better way of doing this. I bet most people don't bother to keep track, and when they need to find someone in a hurry, look up an online guide. That really doesn't help with immersion.
Hmm, didn't know about the two-round exploit; what I did was cast all my buffs before hitting the encounter trigger. Not being able to delay turns is kind of annoying I guess. Would kinda prefer to open with an aoe spell before having my warrior charge in. Oh well.