Stubbs is awesome, but there are really very few open world action RPG's like fable. It's a different genre.
I'll recommend four games:
A. Mass Effect
B. Beyond Good and Evil
C. Champions of Norrath
D. Marvel: Ultimate Alliance
No game is gonna have quite what your looking for, but I feel these games would meet your needs if you are a Fable fan.
I'm going under the obvious assumption that you have played Diablo 2 thoroughly.
I don't need your console war.
It feeds the rich while it buries the poor.
You're power hungry, spinnin' stories, and bein' graphics whores.
I don't need your console war.
NO NO, NO NO NO.