(1) Ultima 8 - *Shifts to defensive posture* Yes I'm well aware of its reputation as the worst Ultima of the series, but its my personal favourite, mainly because the story and setting seem darker and less fantasy cliche than the other Ultimas (although I only played U7-9). It's also the first RPG I played.
(2) Planescape: Torment - For the story and characters, obviously.
(3) Morrowind - For sheer scale and freedom.
(4) Baldurs Gate 2 - Inferior story & setting, but superior gameplay to Torment.
(5) Fallout 2 - Any game that allows your character to become a porn star deserves to be in my top 5.