I think there are a lot of good RPG's out there depending on what your after. The more modern RPGs tend to lack depth but there is some value to buying them.
Baldurs Gate - This was a fantastic party based game with a rich story and very deep character customisation based on DnD rules.
Baldurs gate 2 - This was superior to the 1st in every way. Graphically it is old but the game can keep you occupied for hours, days and months. Its party based character customisation has never been topped and IMO this game is one of the best RPGs to date.
Fallout - A very good story and great character customisation. You can have a party but the customisation is very limited. The ending style is better than any other RPG and the turn based combat is exciting and well executed.
Fallout 2 - More of the same, another contender for top RPG. The ending is second to none and the character customisation is superb. If you havent played it, you should.
Icewind dale 1 & 2 - I didnt really get on with them. The customization was still good but the party had no character and the story wasnt as good. That said, the game probably still tops more modern RPGs
Torment - Similar customization (with slightly less options) as Baldurs gate. The story however is better than pretty much any other RPG out there. Yet another contender for top RPG.
Arcanum - Great character customization and the story is rich. The games atmosphere, IMO, isnt as involved as some of its peers but it was still a great game with plenty of replayability.
Neverwinter Nights 1 & 2 - A highly praised game that i personally didnt really get on with. The customization is still great though it focuses on a single character. The story was pretty abysmal and generic if you ask me. This game you played for the multiplayer which i understand is still pretty strong.
A Farewell to Dragons - A modern take on the old party based games. Not a bad attempt either. The party based customization is quite good. You dont get to choose your protagonist and in my opinion its hard to resist the urge to purposefully die just to watch him get killed he is that annoying. The effects are also somehow worse than the older games and the dynamics of the game less thought provoking. Its still worth a play though.
Vampire the Masquerade 2 - Bloodlines (the second one) - This game has one of the best atmospheres of any modern game. The character customization is lacking a bit and there are still a few glitches. But the game is fun and the characters memorable. I really enjoyed this game.
The ElderScrolls Morrowind. - This game offers a very rich sin gle character experience which is well worth playing. The customization is the best of any open world games and the amount of things you can do is exceptional. The story can be a bit confusing but if you take the time to let it tell its story it is well worth it. I would say this is the only modern game woth considering for best RPG if not for the game for the sheer amount of effort that evidentally went into the game.
The Elderscrolls Oblivion - Fantastic graphics but heavily dumbed down from Morrowind. The locations are less interesting, the scenery generic and the character customization is, althought still relatively deep, very much simplified. This one is worth it due to the lack of competition but it isnt nearly as good as its predecesor.
Jade Empire - The start of the decline in RPG's this game is good, offering a great atmosphere but the story is generic, the customization vurtually non existant and the compbat purely action based offering no strategic depth.
Fallout 3 - A boring open world but populated with a few memorable characters. The story is terrible, the character customization is on first glance quite complicated but under scrutinization is almost pointless and the atmospehere is average. Buy only if you have run out of RPGs in my opinion.
Dragon Age - An attempt to get back to their roots they bottled it half way through and quickly made it flashier and simpler. A part of four which is nice but the character customization belongs to a MMO for kids and the story is generic. Some nice cinematics and a few decent moments are what makes the game. Worth a play, but dont expect genius.
Mass effect - Only just an RPG (The genre not the definition, i know you play a role) it lends a very engulfing story with great graphics, action packed combat and character customization which, although simple, does work.
Mass effect 2 - Not really an RPG at all. Boring and pointless character customization. An almost non-existant storyline. Boring and repetative combat. It does look pretty though. Personally i would avoid.
Divinity 2 Ego Draconis - Far too short with a dissapointing ending but the game is fun and flying as a dragon looks and playes well(ish) the character customisation works though wont win any awards. Th story is average (some great some terrible bits) and the characters pretty much forgetable.
The Witcher - As long as you get the patch for the speech this game is fantastic. The atmospehere is probably better than all of its peers and the story is genius. You have real difficult desiciouns which have real effects in the story. The biggest downside is the compbat which is crap. Better than any similar modern RPG by a long long way.
Thats all i can recall off the top of my head.
On a side note, Almost all games like GTA are games in which you play a role. Fact. But they are not part of the RPG genre.
Every style of game falls into a Genre and some then fall into a sub Genre. The fact that a style of game has been named Role playing game does not instantly mean that every game in which you play a role falls under that genre. The genre could have been called stat based, deep, story driven character customization genre but it wouldnt have the same ring to it. So no, none of the GTA's are RPGs despite the fact that you play a role in them. They are all action based open worlds.
Dariune