I am one of those people who plunks shameful amounts of time into computer games. I've been out of the game-buying circuit for 2-3 years due to the age of my computer, but I find that I tend to prefer older games. There's simply more content and frequently, they just seem better constructed. Also, the RPGs tend more towards turn-based, which is a heavy preference of mine. I do not care for real time. False turn-based where you can pause and queue up actions does not count, in my mind.
Despite that, Morrowind is still one of the best new games I've ever played. I ripped through the new Bard's Tale game, Knights of the Old Republic and even Neverwinter Nights in a disappointing amount of time. Contrast with Wizardry 8, which took me months - but that game, though more recent, is a past-blast to the previous seven Wizardries. What have I spent much of my recent time on? Might and Magic ... VI and VII. What do I still consider the best RPG I've ever played? An obscure little game called Betrayal in Antara. Though set in a different locale, its engine is sandwiched between Betrayal in Krondor (which was fun enough, but Antara's storyline takes cake and platter) and Return To Krondor - which was another game that sacrificed graphics for content.
Running close second is the more recent Arcanum: of Steamworks and Magick Obscura. I love games with side-quests that you can totally miss and discover the next time 'round. Also, again, I loved the plot.
Strategy games I've had more luck with because they tend to be more exclusively TB and content lends itself more to each game being different: Civ 4, Galactic Civilizations, etc. (The Movies is a dud.) However, I still have original Colonization (yes, the version that was released a year or two after Civilization NO NUMBERS!), I enjoy playing Zeus, and I recently had a hankering after Castles and ... probably the best older strategy game I can remember playing... Master of Magic. Honestly, pound for pound, MoM blew original-Civilization out of the water for me.
All this came up because someone I know online has been trying to convince me to pick up Fallout and Fallout 2. I have seen a few new games that I would be interested in (my computer can't handle them, so it's moot), but the truth is, I could happily keep myself busy on games released before 2000. Indefinitely.