I love it when this thread suddenly pops up now and then. Brings back great memories from my first playthrough, and I have to agree with everything you say Prine. I played many many many games (like mgs4, uncharted, fable, gears 2 etc.) after ME but none of them did come close to my ME experience, Fallout 3 could be a runner up though.
<3 wRPGs.
If they release ME2 in 09, man...Dragon Age + Witcher + Me2, I will be in heaven, or hell, depending on how time consuming they will be.
Edit: about Renegade/Paragon. Well, there are some bigger decisions to be made, which should affect outcomes in ME2. Especially at the end of the main quest, and at the end of Noveria. Personally, I like it this way more than, let's say Fable 2. Fable 2 is extremely black and white, if I wan't to be bad, I have to kill and sacrifice innocent people. And while I love Fable, ME's decisions are far more grayish, I also could easily see most of the outcomes that happen in real life too. Because ME is in a very gray area.