Arguably. It is up there. Personally I favor Baldur's Gate II: Shadows of Amn.

I'm not an all-round RPG-fan, though. Games like Diablo and Titan Quest lie in my closet collecting dust. Not much RPG in them I fear, and if it's not RPG, it has to be 3rd person or I can never enjoy it. Even my RPG's I mostly love in third person. Gothic II, anyone?