I don't feel like writing lots of text right now. Otherwise I would write in detail about what this games lacks to make it up with Kotor 1 and games like planescape tourment, Fallout 1&2 or Baldurs Gate 1 & 2, wich are only a small part of the rpgs i've played .
So I'll focus on what for me (yep it's just a personal opinion) is the greatest flaw in the game, namely the bad character introduction.
It seems to me that the rpgs i liked best for their story had on thing in common. They all carefully introuced the player into the story. The player always knows enough of the backgrounds to make decisions the way he likes to play and develop his character.
It's no problem if there are some secrets in the characters past, as long as the player isn't forced to make decisions on the base of his own unknown past.
Kotor 1 handled this very well. You did not know about being Revan. You had to solve the mystery and you where getting the idea that there is a dark secret while story developed.
In Kotor2 the situation is extremly different.
Many times I had to choose dialog options without the slightest idea of what would be the right answer for my style of developing the char, because I had no basis of information about the background.
Everything is set up in the charcters past and everybody is talking to my alter ego as if I should know whats it all about from nearly the begining of the game. That's what demotivated me in many occasions.
Back in planscape tourment i could keep up with things even though much only unfolded late game and in many dialogs with the nameless companions. And i could see if they had something new to say, without trying every single dialog option again and again.
If the exiles past had been introduced at the very beginning of the game, giving the player an idea of the frustration of the exile after the descesion he had to make in the mandalorian war, the entire following game would be much clearer and better imho.
The consequences would have been the riddle the player had to solve.
Why was he cut of the force? Was it the councel? An so on.
In the following events the player would get to know that the decision that looked inevitable in the past has something to do with what happens in the game. And he could make decisions on the base of that past, either tending to a dark or a light path.
I actually want to "live" my rpg chars when playing a story based rpg. In this case I just couldn't, because i could not understand his situation throughout more then half of the game.