I read the GameInfomer article of what a perfrect rpg shoud be. So I am making a blog of what i think would make the perfect action rpg. (Dont worry there is no Kingdom Hearts)
 
The world-  Bioshock. Nuff said
Shooting -Borderlands. In many acvtion rpgs such as Alpha Protocol pressing the fire button is basicly pressing the roll the dice buton borderlands solves that with actual real shooting  
Inventory -Mass Effect 2. In any Bethesda game you are going to eventualy run out of room in your inventory, Mass Effect 2 fixes it by getting rid of inventory all together by making you find upgrades insted 
Strategy -Dragon Age Origins. Again, nuff said
Level ups- Falout series. Leveling up is a  grind so the Fallout series fixes it by adding Perks when you level up which makes it more satisfying. 

How would Bioshock be the ideal world? The underwater city of rapture is fine for a linear FPS game, but I want level variety in my open ended RPGs. You can't just have a one off snow level in Rapture.

 Inventory -Mass Effect 2. In any Bethesda game you are going to eventualy run out of room in your inventory, Mass Effect 2 fixes it by getting rid of inventory all together by making you find upgrades insted     

Strategy -Dragon Age Origins. Again, nuff said    

Level ups- Falout series. Leveling up is a  grind so the Fallout series fixes it by adding Perks when you level up which makes it more satisfying.     

Party AI should fit in there somewhere. If we're covering all the bases, I'd want options for full-auto AI (ME2 on easy), Light customization (similar to the system available in dragon age, but not so limited by character level), and at least action by action directed combat.