I loved Torment. The narrative description at every turn is something I've yet to see in any other game, and probably never will; it will go down as one of the all-time greats. I actually never extensively played the Fallout series, much to my dismay, so I'm not sure if Bethesda's sequel will be able to match the first two. However, Baldur's Gate 2 is probably my favorite RPG of that era. Those kinds of 200+ hour campaigns are a thing of the past, however. I have a few of the old ones laying around, but playing at 640x480 on my current monitor is almost unbearable. I wish they would get ported to newer engines like the original Baldur's Gate has been.
I'm telling you, the cinematography in Mass Effect will set a new standard. There have been several dialog sequences where I just slunk back in my chair at the end and said, "whoa... that was awesome."