I've often toyed with the idea of splitting up Dex myself, but I'd have split it roughly into Agility (gross motor) and Coordination (fine motor) which would have corresponded to DCV and OCV, respectively. Related skills like Breakfall and Lockpicking also fell into either bucket pretty cleanly. Either stat would have cost 2/pt, because I perceived Dex as being too cheap; this matches with my long held belief that Str should also cost 2/pt in fantasy.
As for initiative, I once played a campaign where that was defined by Int + Dex (which we called Reaction, because there are already so many figured characteristics, what's one more?). Mainly to balance things a little better for the spellcasters.