Yosharian, to skip dialogue, press the X button. You can't skip cutscenes though.
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I really enjoyed Mass Effect and, like KOTOR, it really left a mark on my mind. Probably my most memorable entertainment experience this year.
That being said, none of Bioware's games are good GAMES, in my opinion. For me, a game needs to make good use of the controller I am handling. The two joysticks, the two triggers, the buttons. It needs to challenge my reflexes and such. Like a sport. If it has a great story, that's great, too, but first it needs to get the gameplay right. I've never been a big fan of RPGs because of their click-and-watch nature, but at least RPGs like Final Fantasy have a lot of challenge to them. But with Bioware, you could literally beat KOTOR by pressing just two buttons the whole game: target then flurry. I'm not exaggerating. Try it, even on the hardest difficulty. Target. Flurry.
Mass Effect tried to leave the click-and-watch mechanic but I don't think it worked out well. The AI is very bad, and the combat mechanics feel more primitive than what we saw in FPS games 10 years ago.
Also, it smashes very different genres and themes into the game which kinda put me off. The dialogue was great, I really enjoyed it, but I can see how action gamers would get impatient. Look at all the popular action games. They're practically devoid of any dialogue at all. The typical FPS game makes WWF Wrestling TV shows look like Shakespeare in comparison, that's how little dialogue is in an FPS game. The game also constantly asks you to pause the game in mid-combat to switch weapon mods, skills, and other things. Imagine playing Streetfighter and having to pause the game in mid-combat to give your fireball a special boost against green Brazilian mutants. Ruins the flow.
The game's story and setting is all over the place. The Codex explains all the technology and politics of the universe in great detail, as something that could really exist. It takes itself really seriously, like a Star Trek Technical Manual or a Gundam Universal Century explanation of Minovsky particles. It talks about how space warfare is nothing like the warfare we know of today in the 21st century, or anything that's come before. But then we see the combat in the actual game.. and it's stuff that feels more primitive than World War 1 fighting. Shotguns, assault rifles, pistols and sniper rifles. But the worst thing about it is that the AI is so bad that the realism suffers even more. In KOTOR, we had a similar problem. You're supposed to see the enemies as complex characters, but then they act like zombies, waiting to be cut down. Lately I've had a big issue with media that have a "hardcore realism" attitude but then follow it up with Rambo-style combat.
All this makes me think that Bioware should reconsider how they make games, what platforms they make them for, and who they make them for. Mass Effect is mostly a conversation game. An interactive choose your own adventure novel. In many ways, it feels more akin to Phoenix Wright Ace Attorney-type games on the NDS than it does to something that should be on the 360. I can totally see myself playing this kind of game on my PSP and really enjoying it while riding the bus. What about the Mass Effect experience would really be lost by shifting to the PSP? The core of the game would still be there..
All this griping aside, I'm still glad Bioware took a chance by making this game. I'm an action gamer first and foremost, but I desperately want to see more dialogue and story in my action games. Mass Effect didn't strike the right balance for me, but it at least tried to. Most action games seem to be for a demographic I'm not a part of, and most RPG games seem to be for another group I'm not a part of either.