of the rpgs I have played, Xenogears was by far the game with the best story. it may lack something in the combat system and maybe it's a bit boring with some dialogues but the story is the only thing I care actually (to me playing a rpg is like watching a good anime).
in the ff series, ff7-8-tactics are all honorable mentions, but my favorite one is still 6.
suikoden II and valkyrie profile are also games that you cannot miss from the psx generation.
shadow hearts convenant was the only ps2 game that I consider great.
I cannot even consider occidental rpgs as rpgs just becuase you gain levels and abilities. as much as I love the mass effect series, it feels more action/cover/shooting game than a role playing game. most of the rest are first person shooters to me...
fallout 3 is the "rpg" I hate most. after playing it for like 20 hrs I felt so ashamed of myself for playing such a pointless game that I stopped playing videogames for 1 month