Planescape: Torment is the best game I've ever played. It's been over 10 years and it's still one of it's kind. I'd pay thousands to see a 2d isometric text-heavy rpg in Planescape setting or an original IP with a very surreal/weird twist.
The list of things I'd like to see:
- Isometric 2D (I love the artwork of Infinity era games)
- A setting with a surreal twist
- Lots of text and dialogue (no need for voice acting)
- Choice and consequences
- Hard decisions (you have to choose the better one of two bad alternatives, for example killing a character from the party)
- Different joinable factions
- Party with well written characters
- Intelligence affects the dialogue (Fallout 1 and 2 had some hilarious dialogues when int 1!)
- Lots of skill checks (adds replayability)
- Impossible to max all stats (forces you to play different ways)
- Quests with character class/skill/race/faction requirements
- Different ways to finish quests
- No useless skills
- Different endings
- Open world to explore (something like fallout 1 and 2, but with more small locations)
Whatever you do, please do not make a bland cliche-filled fantasy rpg. We have already seen too many of them. If it has to be an original IP, I'd like to see something like Planescape, a surreal/weird setting where the developers can use lots of imagination.