Honestly I feel the dexterity with my 720s is great.
I can grab a boltsnap and feel exactly what is going on with it, no need to guess that I've maybe opened it while trying to clip it to something, it's great.
If I'm down at 10m or deeper the pressure will make sure there is absolute zero slack in the gloves, which makes the above even easier.
The only thing I'm not a massive fan of is the rings as they can feel a little bit in the way if I'm reaching for my valves sometimes, but it's more an issue of practice makes perfect rather than actually being in the way.
I have dived with the gloves squeezed down around my hands as you describe. I have not found the squeeze to be uncomfortable in the least and it helps with general dexterity. I supposed if I had to do anything for any length of time with my fingers that the squeeze may become cumbersome and fatiguing but the occasional unclipping/clipping of bolt snaps or fiddling with my DSMB and reel are not enough for this to be a problem.
However, I do notice, on the dives that I forget to insert the silicone tubes under my wrist seals, that my hands become colder sooner when I dive with the gloves squeezed down. In water 15c or warmer this is a non-issue, but the water temps here are still around 10c. With the tubes in place I can dive for relatively any length of time without the cold bothering my hands but without the gloves, as my dive approaches the 45 to 60 minute mark my hands become increasingly uncomfortable. The obvious answer to this is to dive with the tubes in place, or as @Deep South Divers will say: "cut the wrist seals back". I am too cheap and scared to cut my perfectly good si-tehc wrist seals back so until they both tear and I get the courage up to cut them back to the rings I will keep using the tubes.
Tonight I am going to experiment with the little red tubes from aerosol cans like wd40...I find it a bit cumbersome at times to insert the spaghetti like silicone tubes past my seals. The red tubes seam to have the same resistance as the silicone tubes when blowing or sucking air through them. Will post again to indicate how it works out.
-Z