Well, I've put well over 400 hours into Oblivion (with mods and expansions) which is more than any game this gen. The closest is probably Dragon Age: Origins which is currently at 228 hrs according to Steam. I loved the game world and some of the quests were superb. Yes, Fallout 3 has optimised the formula, and Mass Effect, Witcher, Dragon Age, Final Fantasy and Fable II have come out now, but it's still damn good even now.