An interesting read, nicely done. I can say I think I'd have a tough time going through it on a longer piece, but I seem to remember hearing that style as a bit more of an intro or summary of events.

What about the "ladies"?

The style takes a little getting used to, but not that much and you've done it well. I've read another story in this style, where the author used quotation marks for each paragraph; your way works much better, as you can differentiate at a glance who is talking.

The style certainly suits the scene very well. Large dialogue-centric stories should definitely be handled like this, to avoid the "xxx said,..., yyy said"-related annoyances.

>What about the "ladies"?

Look, everyone here knows girls don't exist on the internet.