The first RPG I remember playing and investing the most time in was Breath of Fire III, and interestingly enough that's how I met my best friend. And best of all it's a really solid RPG in itself, and not all nostalgia.
This. My first RPG was Breath of Fire III too, and it's a pretty damn fine game. Everything, from the visuals, to the music, the awesome dragon designs and a hell lot of other stuff in it just blows me away every time I play it and even when I just think about it. But, it's not my favorite. Nothing else is my favorite, actually, because I don't usually choose favorites.