Of modern WRPGs. FO:NV is the only recent one I can remember that I liked. Speech/Barter are actually important. Certain abilities would allow you different ways around a problem. You can go through the entire game without killing anyone(Though that in itself is fairly difficult) Wipe out a faction, help them, antagonize them, ignore them. Each of these had repercussions.
FO3 I didn't really feel the need to replay after I beat it. Just about everything you do leads up to the same choice. Do I want to be evil or good?(I hated karma by the way. Never tell the player he's evil/good, let them make up their own reasons for what they're doing. Disliked it in NV too, though the rep system was a much better focus)
Thing is, when you aren't allowed to make much of a difference, the game turns into an action game instead of RPG. If I wanted to play an action game, I'd play an action game.
Lets compare Obliv and MW too.
In Morrowind, you had to deal with corruption in the fighters guild. Either side with the Tong or work to root it out.(Your choices could also affect thieves guild eligibility) Great Houses would lock you out of others, and give you a nice disposition hit to the rival houses. Later on, in the main quest, you need to be declared hortator of all great houses. The game accounts for you being the head of a great house(If you made it that far), and as such can declare yourself hortator. If you take a long time on this section, the quest giver gets worried and tells you to ignore it if it's too dangerous. Or maybe you decided you had enough of Vivec's BS and killed him to take wraithguard for yourself, got it reactivated, and killed Ur without any of their meddling. Heck you could fully break the main quest if you so desired.(And it'd let you know)
Oblivion didn't let you decide. You're a token
. You could join the "lol im evil" club but it made no real lasting impact. The thieves guild will have you steal from yourself if you happen to be the archmage. Seriously, you'd think they'd have better informants, they don't remark about it at all. You're forced to protect the "savior of the world". He dies and you're forced to reload. No playing in the doomed world you have created.I saw two action games there, and two RPGs.