Interfaith dialog is amazing if you plan to only have your capital following that religion AND you're making lots of faith.
Buy missionaries in you capital, try to convert your own cities (purposefully choose cities that WONT convert to your religion, and watch the science roll in. Interfaith dialog gives you science equal to 2 turns of whatever you're making now. Meaning that every missionary you make will shave 4 turns off the cost of whatever you're researching. That can add up to -20 turns spent on researching quite easily! A huge advantage!
On the other hand, missionaries are very expensive later on. And, in a kind of tragic irony, researching really quickly will increase the cost of your missionaries.
I always get interfaith dialog when I'm 100% sure I won't be able to spread my religion EX: Diety.