So, unfortunately a certain scatter brained moderator while obsessing on The Bard's Tale IV neglected to mention that inXile Entertainment has also been working for sometime now on another old school RPG, based on a table top game that was patterned after the classic Planescape: Torment.
Torment: Tides of Numenera will be a single player, story-driven RPG. The folks over at inXile really care about their product, so while they may change things up a bit from early RPG's they still have a great appreciation of the old school styles of gameplay and story depth. This is apparent in what they call the "Four Pillars" that they have and are working towards while developing the game:
1. A Deep, Thematically Satisfying Story. The philosophical underpinnings of Torment drive the game, both mechanically and narratively. Your words, choices, and actions will be your primary weapons.
2. A World Unlike Any Other. The game has a fantastic, original setting, with awe-inspiring painterly visuals, imaginative locations, offbeat items, and massive feats of magic. (Though in Numenera, "magic" is something surprisingly different.)
3. A Rich, Personal Narrative. The story is thoughtful and character-driven; epic in feel but a deeply personal narrative, with nontraditional characters and companions who have their own motivations and desires that drive them throughout the game.
4. Reactivity, Choice, and Real Consequences. The game emphasizes replayability and reactivity, and your choices will make a real difference. You can play the game with a different approach and discover entirely new pathways. Most important, we won't tell you how to play. The "best" ending is the one that arises naturally from your actions throughout the game.
If you follow the previous link in this post, it will take you to the game's website. Here is an early look (vid) done over a year ago, from what I understand they've come quite far since then.
An Early Look Most of you probably already know about this, but if not, it should be a pleasant surprise.