RedEyesBlackGamer said:
Table top gaming. Nothing can top the amount of choice that you get in that. Try D&D or Pathfinder.
Ninjaed.
Seriously, this is the only way to get a true, fully customizable role playing experience - the only way it is possible for you to pick your dialogue option by speaking it aloud, in character.
Which is why I play a LOT of D&D (well, Pathfinder actually, but I still call it D&D).
No video game CAN create a true role playing experience - it just isn't possible with current technology. You're always limited in some way.
Planescape Torment is a great game - one of my favorites, but you're always playing the Nameless One. No matter how you play him, you still have to be HIM.
Edit:
And, to the people saying KOTOR - really? You can only role play two characters in that: Light Jedi or Dark Jedi. I tried to play a female Han Solo, and was almost instantly forced to become a Jedi. And, since all the Dark Jedi options were baby-eatingly stupid, I ended up a Light Jedi by default.