You never said set jrpg so I'll say something that isn't from japan for once.
My favorite RPG is a 3 way tie...
Star Wars: Knights of the old republic: A great game with cool combat and character progression. The story was great and the game was fun, Don't need much more then that.
Dragon Age origins: Again, great story, immersive world and awesome tactical combat that made you think.
Deus Ex: Do I really have to explain this one?
Runners up...
Oblivion: Great open world but the combat kills it
Mass Effect: Don't get me wrong, I'm a Mass Effect fanboy but it's less of an RPG and more of an RPG-TPS hybrid.
Fallout New Vegas: Those bugs kill that game
My favorite RPG is a 3 way tie...
Star Wars: Knights of the old republic: A great game with cool combat and character progression. The story was great and the game was fun, Don't need much more then that.
Dragon Age origins: Again, great story, immersive world and awesome tactical combat that made you think.
Deus Ex: Do I really have to explain this one?
Runners up...
Oblivion: Great open world but the combat kills it
Mass Effect: Don't get me wrong, I'm a Mass Effect fanboy but it's less of an RPG and more of an RPG-TPS hybrid.
Fallout New Vegas: Those bugs kill that game