For the past couple of years, my friend and I have had a tradition of playing a hack and slash RPG together (online co-op) over winter break, and especially on Christmas Eve (after all the drinking and churching)
It started with Diablo II (King) then Dungeon Siege (Boring) and last year it was Titan Quest (pretty sweet) However, this year we both have 360's are are both tired of the whole "installation and system requirements" side of PC gaming. The 360 really needs a hack and slash RPG.
It looks like Kingdom Under Fire: Circle of Doom is our best bet, but it comes out Jan 8, which is a little too late for our Christmas Eve purposes. I haven't played the previous KUF games but I hear they are pretty fun. Im afraid they are more "Dynasty Warriors" than "Baulders Gate" though.
Then theres this XBLA game called Arkadian Warriors that sounds awesome. The only problem is, I can't find a real release date. This game lets you pick Soldier, Archer, or Sorceress and you hack your way through dungeons to go fight a Gorgon. Sounds like a good time to me.
It looks like Lego Star Wars might have to be our game, even though its not an RPG, it certainly has the hackity slash gameplay.
Ive also tried looking for an original XBOX game that fits the description, and is backwards compatible, and works on live. but so far no luck.
We might just have to take it back to the PC.