Indeed, the RPG "feel" of RTW is what I like the most about it. Of course, this isn't new to the Total War series, nor to strategy games in general, but I think RTW takes the phenomenon to its peak. A peak not even the immaculate Alpha Centauri dreamed of.
To lead one's general, whose birth and ascent to glory or infamy one has orchestrated, who has a family, and a history, and monuments built to commemorate his battles of times past, to lead him into confrontation, and watch him make a speech to his troops which reflects his personality and qualities and habits as a leader...it's phenomenal. To lead into battle, say, the at this point elderly, dangerously insane, possibly homosexual drunkard adopted Celt son to a Roman Legate and have all of those things matter and have all of those things be linked to causal factors in the world. That's RPG magic.
RTW makes actually roleplaying a character and not just being a munchkin all the time rewarding in a way that even most D&D CRPGs don't. That's especially remarkable because it's not an RPG.
But there's more to character development in RTW than in most RPGs.
<{POST_SNAPBACK}>
Well . . . It's a good game, but it has some flaws.
The load-game bug alone is a game killer. It makes it impossible to play the game in the mid to late era without hibernating your PC for weeks. (it resets all the AI after every reload to 0, essentially paralyzing the AI into helplessness)
That being said, yeah, I never really thought of it in RPG terms. The "family" aspect of the game is really neat. You can groom whole extended families through their entire lives and have them become very different kinds of people: heroic or cowardly, conservative or liberal, puritian or sexual predator; even little seemly obscure traits make a large difference, i.e. whether or not your character likes gladiator games, how "pure" your wife is, how do you feel about foreigners, etc. And you have about a 50% say on how your characters in your family develop. You'll have people in your family ranging from the wise, powerful elder, to the young, irresponsible, worthless kid.
And yes, the battle speeches are excellent (well, the Roman ones are). And they are influenced on your character's traits. Is he brave? Is he a coward? Is he a tactictian? Is he inept? Is he a great speaker or a tedious one? Is he insane?
That all being said, it'd be a great game if it wasn't for the load-game bug.