I would say the Dread is a pretty versatile class, thanks to medium BAB, 6+Int skill points, and 6th-level casting. While you obviously want to pump your Intimidate score up, you've got the points to explore plenty of other skills. Since your casting runs off of Charisma and you get most of the face skills, that's a role you can take for out of combat.
Combat-wise, the dread functions as a melee debuffer and self-buffer. With the right setup, you can leave your opponent with several nasty debuffs from a single attack action. Especially since your auranegates fear immunity and gives a -4 to saves vs. fear effects (which most of your toys are).
I think both builds can be reasonably viable, if you make them the right way. I'd lean a bit towards the dex build, since having a conductive weapon gives you a nice non-strength static bonus to one attack per round. Plus the Dread's debuffing doesn't really need extra strength.
That said, going strength focused does have the advantage of dealing more damage without the feat/enchantment cost of finesses weapons, and there are ways to get decent AC even with only light armor proficiency. Also some buffs like Expansion work far better for strength-based melee than dexterity-based. Remember, you can always take Expanded Knowledge to grab a few powers that aren't on your class list.
I don't think I'd reccommend two-weapon fighting. Like you said, it's a very feat-intensive style, you don't really get any special bonuses to boost it up, and there are plenty of other good things to spend feats on. Terror Mastery and Touch of Terror are both very nice Dread-specific feats, then there's the standard boosters for an intimidation build like Shatter Defenses, Cornugon Smash, and Dreadful Carnage.
Crit-fishing is a pretty good choice, so long as you pick critical feats that don't grant saving throws (those saves will be a bit too low, since the DC is determined by your BAB). Bleeding and Sickening critical and both good choices: Staggering offers a saving throw, but all the save does is reduce duration, not negate the debuff. Psionic Critical also gives you some straight bonus damage on a crit, if you prefer that.
Another possibility, though very feat intensive and narrowly focused, is to go with a build that lets you use the Broken Dreams Style feat line alongside Feral Combat Training and natural weapons. It takes some work to set up compared to a basic build, but the style gives a free Conductive effect on your unarmed/natural weapon attacks, free intimidate checks, concealment against anyone under a fear effect, and turns all scared opponents flat-footed against you.
Skill-wise, I would say that if face is out, you could get the usual selection of sneaky scouting skills. If your group has a ninja, he probably won't mind having someone else who can sneak along with him to provide some backup.
As for the statline, i'm not a huge fan of the wisdom dump. Sure, you have a good will save, but will saves are important, and a couple big skills (like perception) key off of wisdom too. that said, it's up to you.
One other word of advice: For a character who's going to focus on fear effects, the cruel weapon enchantment is a must.
Just started playing one, I have one piece of advice you must take: take the Expanded Knowledge feat to gain the Astral Construct power. Ten minutes into the game, the GM threw an Ooze at me and I realized that virtually every single power and terror I had was Mind-Affecting, and that my natural-attacks were no good when I risked massive acid damage and charisma/intelligence damage for every hit. Take Astral Construct so in the event you wind up against something mindless you can create your own mindless beatstick to smash it into oblivion.
I'd also look into some of the archetypes. Fear in Flesh gives you some natural attacks, the ability to get free intimidate checks after a natural attack, and at 4th level a sort of Alchemist's mutagen as a swift action with no drawbacks except that there must be a Shaken fellow nearby. Nightmare Constructor is also decent, giving you an Eidolon to channel your terrors through while you start passing out the debuffs.
If you're going 'plain' Dread, I'd get a Conductive reach weapon and move up next to the fighters and start bashing, delivering some nasty terrors and powers as necessary. Another option is to take Improved Eldritch Heritage: Aberrant to get Long Limbs; extra reach for your Devastating Touch abilities is quite nice.
Good feats are Insightful Terror and Lunge. Good terrors are hard to find, but they're swift actions so it's hard to go wrong. A good item is a Crystal Mask of Dread; +10 to intimidate checks.
Look at your Terror choices.
These alone almost will allow you to tailor the kind of dread you want to play...
Just started playing one, I have one piece of advice you must take: take the Expanded Knowledge feat to gain the Astral Construct power. Ten minutes into the game, the GM threw an Ooze at me and I realized that virtually every single power and terror I had was Mind-Affecting, and that my natural-attacks were no good when I risked massive acid damage and charisma/intelligence damage for every hit. Take Astral Construct so in the event you wind up against something mindless you can create your own mindless beatstick to smash it into oblivion.
the Penetrating Fear feat lets you deal with enemies that are immune to fear. Too bad it has level 10 Dread as a pre-req. Aura of Fear also helps, but only within ten feet and only with fear effects, nor other mind-affecting abilities.
@Chengar
....Sonofa... I completely missed that. I'm playing a level 12 Dread. Thanks very much for pointing it out.
Did you think perhaps going the Dervish Dance route?
Lets you neglect Str, but still have good damage, and you have a hand free to use your touch attack still.