This is my #1! I would love to be able to edit the transcript and have it change the gaps in audio.

For example, to be able to configure that a gap after a period should default to .25 seconds, after a paragraph to .5 seconds, and when switching between speakers to 1 second. This would save me a wonderful amount of time. This, in conjunction with automated breath-noise extraction would basically mean my entire editing would just be organizing the transcript.

Hear, hear! Concerning your request, I am recommending the use of Speech Synthesis Markup Language (SSML) tags to implement it and provide additional control over how Overdub generates speech from the text here: https://feedback.descript.com/feature-requests/p/provide-additional-control-over-how-overdub-generates-speech-from-the-text-eg-us

Please see my request entitled "Provide additional control over how Overdub generates speech from the text (e.g., using SSML tags)" as using such tags would permit tweaking how Overdub generates speech well beyond space (pausing) between words.