I would suggest Risen as an RPG you should check out. It's a recent game (less than a year old) and yet very old school.
It's the sort of game that really, really creates an atmosphere. If you have a decent rig, the graphics are very nice. All dialog is voiced, and the acting is great.
It reminded me of the Ultima games in that there is a complete free roaming world, day/night cycle, and NPCs that actually keep to a schedule and don't stand in one place 24/7 as quest dispensers.
The combat is not a clickfest, either. You have to level it up and get used to it, timing your attacks and dodging, parrying, blocking, etc.
It's far more fun than Oblivion. Nothing is level-scaled. If you wander into the wrong place when you're low level, you'll get your ass handed to you right away. Better loot and upgrades do not fall, Diablo-style, from every monster and tree. Wolves do not drop plate mail. You have to work and quest for your upgrades, and you get a damn fine sense of accomplishment from it, something sorely missing from Oblivion and other level-scaled games.
I'm enjoying the hell out of it.
