1) Shadow Hearts (Great combination of survival horror and rpg elements make this game shine, plus the artwork, dialogue, music and controls are all top-notch. There's a fair amount of humor in it too which lightens the mood when necessary.)

2) Dragon Quest VIII (Hilarious characters, cool story and smart writing combine to make this a real winner. There are some very touching character interactions as well.)

3) Shin Megami Tensei: Devil Summoner (Awesome graphics, storyline and characters. This is a huge winner, and very innovative in a category that can be pretty stale at times.)

4) Final Fantasy X (Had to mention this one, it has some of the highest production values of any game in any genre. And I'm not just talking graphically either. From the story to the minigames, everything is done just right.)

5) Suikoden III (A worthy addition to the Suiko series, which has sadly fallen on bad times of late. The innovative story structure whereby the player selects the point of view he or she wishes to experience first is the big draw in this game.)

Honorable mentions go to: Champions of Norrath (very engaging hack-and-slash, and better than Baldur's Gate, IMO), Kingdom Hearts (good but not nearly as great as everyone makes it out to be), Shadow Hearts: Covenant (Awesome game, but not as good story-wise as the first, though the battle engine is slightly better).

There are quite a few RPGs I have yet to play for the system, which is why they aren't listed. Can't say if it's good or bad if I haven't played them...