Risen is a fairly ugly game in terms of animation and lack of polish, but it has some surprisingly good dialogue and the sense that your role on the game island has both merit and direction. Didn't get to finish it (rental), but was pleased with what I saw... but you have to account for the fact that this game (like the Gothic series) is not about looks, but rather substance.
Also, Divinity: Ego Dragonis is a re-adaptation of a Diablo-like series on the PC, but instead of solely hack-n-slash dungeon mongering, it likes to throw in some pleasant design elements to make you feel more powerful (in terms of style, mostly. Less so if you've been modding your way through Oblivion.... Or Morrowind... God, the broken stuff in that game...)
If you're willing to take a chance on a 'JRPG,' consider trying Nier. This game was mis-marketed as a hack-n-slasher, as it is more of an adventure game more than anything. Sure, there's lots of footwork for fetch quests, but the characters and bossfights are fantastic standouts amid a sea of generic dross... On a much more obscure, nerdier note, the studio that developed the game, Cavia, is responsible for the Drakengard games on the PS2, and while Nier feels much more smooth and modern than those, there are enough hints and fan-pleasing moments in the game to make one recall the other games...
Sorry, I'm obtuse like that.
Anyway, the 360 doesn't have too much in terms of 'traditional' RPG play that isn't either dipped into lead paint by its hair or is so broken mechanically that the game doesn't satisfy to its full potential.
