Hi,
This is probably my favourite genre and so far it hasn't been great.
Apart from Oblivion, I've played Enchanted Arms which despite a being too linear and having too frequent random battles was very enjoyable. I finished it and truthfully enjoyed it. I liked the battle system and story and even thought the graphics were mostly good.
I'm currently playing through the single player Phantasy Star Universe which I picked up for £27.97 from Tesco. I'm just starting chapter 3 and so far I'm enjoying it. It's cheesy and the combat looks like it could be repetitive but so far so good. It's not great, just good.
Eragon doesn't tickle me at all, far too action oriented (hack and slash like N3) but I may change my mind.
Next year looks better...
Blue Dragon looks amazing, as does Mass Effect and hopefully both will be with us before Easter. Later we'll have Eternal Sonata, Embrace of Time and Lost Oddyssy; JRPGs. Two Worlds and hopefully The White Council will also come, though there are rumours the latter could have been cancelled on all platforms.
Fable 2 is in the works as is (this is mainly good rumours from now...) KOTOR 3 and Jade Empire 2.
There's rumoured to be a good Oblivion expansion imminent (stand alone and not downloadable). And Square apparently have something planned for the 360 that's not a shoot-em-up.