If you want to check out a lot of RPGs on the cheap then head out to Rogers Plus. They are having a buy 1 get 2 free on used games as well as 75% off a fair amount of new games. I'm not sure what luck you'll have as most of the places have been cleaned out by the "Let's buy all the games and just trade them in" crew (which I ran into on Boxing Day) but give it a try if you have time. I was able to get Resonance of Fate and Star Ocean: The Last Hope International (PS3).
One thing to note is that a lot of games these days have RPG elements (i.e. evolve your character, etc.). Are you looking for a straight-up RPG or a mix of genres (Mass Effect is an 'action RPG')?
Coming down the pipe you have Dragon Age 2 coming in March and a game called "Two Worlds 2" coming this month. The first one, from what I understand, wasn't very good at all but this second one is supposed to be great.
One thing you'll find is with the 360 you'll have a lot of European (mostly German I've found) developers/publishers release games that normally you wouldn't see. These are usually huge PC games that have been ported to the console (sometimes not so well). If you can stomach some performance issues and inventory management issues you may have fun. Games like Risen ($19.99 in the Walmart bargain bin or $9.99 at Rogers), Arcania (Gothic 4), Divinity 2 (there is a new version coming out soon, when the developers find a North American publisher which I think they have, that comes with updated graphics and an expansion pack...reviews from Europe regarding this 'second version' have been very positive).
There are even a few decent RPGs on XBox Live Arcade (Faery: Legends of Avalon, Vanquish Hearts).
Personally, I'd like to try my hand at the new Divinity game (it looks like it has cool weapons and armor in it) and Magna Carta 2 once it goes down in price.
Oh yeah, there's also Final Fantasy 13 which I found was pretty good.
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