cbingham: There are 2 versions of this game. One version has just text and one version has just voices. There's no option to toggle between voice and text in KQ5. You just have to get the right version. GOG only has the voice version.
Personally I thought the voice acting was mostly okay for a bunch of amateurs. It would have been unacceptably bad if these were professional voice actors, but considering this was Sierra's first game with voice-acting, and these were not professional actors, I tend to give them a free pass for the voice-acting in this game. "Police Quest 4," on the other hand, has even worse voice acting, and I can't give Sierra a pass on that one because by 1993, Sierra had gotten some damn good voice actors for other games released the same year or before.
But, V is just horrible...;) A few minutes of that owl hooting while talking and I'm ready to throw the whole thing out. Well, I suppose if I was 5 or 6 years old it would be entertaining--but it was a very bad production. Sierra back in the day made much of its "production values"--watercolor artists "hand drawn" & so on, but even amateurs back then would know "bad" when they hear it...! In the 1990's, professionally directed film & television was known to practically everyone...! It was bad by any standard, even then. I've often wondered why they settled for that poor of a production--V just doesn't fit the games in so many ways, imo.