As a long time fan of Bard's Tale (the proper ones, not the crappy 3D console editions), Eye of the Beholder and many other step-by-step RPGs, I spent a fair amount of my childhood in sewers hitting rats with sticks. That fantasy could be relived with Eliminage III, a new title out in June in Japan from Starfish.
With all the essentials of character and party creation, huge dungeons to explore and lots of rats (and sticks) - but don't worry things should get more impressive as you progress - this should fulfil every RPGer's dreams. Just hope it comes out in the west, although none of the previous games did.
Here's a video from the second game to give you a clue, has anyone been brave enough to import it, or No. 1, and see if its playable through the fog of Japanese?