Hey, make that a server-settable time period and you're on to something... 1 year, 1 month, 10 dwarfdays, 1 dwarfday, etc. Depending on the play group you'd set it to what you feel is appropriate, and a smaller time scale means less of a wait between turns.
Dwarf fortress with pausing being an option rather than a requirement would be cool for multiplayer too. Server says no pausing, so players can't pause. draco doesn't play. Server says pausing, and you can play with a small group: I know my friend and I would have a hell of a lot of fun in a 2 player fortress, and I can see no way that would not work with the current interface. Multiplayer does not mean MMO. It just means sharing the experience.
Finally in terms of synchronisation:
Dwarf fortress is turn based. The turns are just very short. When the game is paused and you press . one time, you take 1 step forward. 1 step=1 turn. For synchronisation, games just need to ensure they are synchronised to the server's step speed, or perhaps have another server-set variable, number of steps to take before checking synchronicity. Fewer steps before checking means fewer instances where a dwarf might suddenly teleport somewhere else because the server says he's in a different place; more steps between checks mean the game will run faster but data will occasionally be relocated by the server.
It'd run slower, but it'd run. Nobody's saying you have to play it multiplayer, but I think a LOT of people would love to try.