Discussion on Dialogue

Recently I have been getting some feedback on dialogue that has me wondering. What are the rules that you follow? I've been told that good dialogue should be like a tennis match or a ping-pong game. It should be swift, back and forth and short and sweet. I'd like to hear what my friends out in blogosphere say:

Just how do you create your dialogue?


Do you follow any rules?


Where does the monologue fit in and when do you give it the axe?


Does your dialogue dance like a tennis match?


How do you deal with a character who is a wind-bag?


I haven't answered these questions with good reason. I'd like to see what you think and what, if any, is the consensus on good dialogue. I hope you will take a moment to jot down your thoughts and thank you for sharing!