Title says it all. Can anyone help me find a "modern" (2006 or later) game built in the style of Might and Magic 6-8?

Requirements (please do not post anything that does not meet all of these requirements):
-Must be single-player/multiple-character. Online/multiplayer mode is optional, though it must not detract in any way from the single-player mode.
-Must be party-based with role-playing game elements. In particular, a full level, skill, and character development system.
-Must be at least partially "sandbox" style, with respawning areas offering the potential to level indefinitely if you choose to. Full sandbox style is preferred.
-Real-time combat with option to switch to a turn based mode just like in Might and Magic 6-8... or at the very least, a "tactical pause" option similar to what Mass Effect has.
-Fully turn-based/grid based games such as Might and Magic 10 and Legend of Grimrock do NOT count.
-Must not force any form of "hardcoe" mode on the player; in particular, must not delete save files on losing, and must offer unlimited saves just like in Might and Magic 6-8 (saving in combat allowed)
-Must NOT require any form of DRM that can damage a computer or any part of a computer (this includes non-hardware damage - for example: filesystem corruption, driver corruption, or operating system damage).

Preferred Features:
-DRM-free (GOG style) is preferred.
-Ability to change adventuring party mid-game is preferred, however it isn't essential.
-Built-in support for modding is greatly preferred.
-NOT "dark and gritty", it's overrated and overdone.
-NOT a D&D (Dungeons and Dragons) knockoff. If at least 60% of game mechanics involve rolling a virtual 20-sided dice, you probably shouldn't post it here.
-Wide variety of character classes, or a "skill-only, no classes" system such as in Elder Scrolls or Avernum is highly preferred. Simply having a warrior class, a rogue class, and a mage class is insufficient (hint: if you post anything about Dragon Age, I will probably ignore it)
-Something not owned by EA, UbiSoft, or Activision.

Other notes:
-Steam is acceptable if there's no GOG (or similar) version
-Does not have to be set in a medieval era. Sci-fi is also acceptable, for example.

(Obviously, if you want to reply to the original post, I ask that you have either played one of the Might and Magic 6-8 games or at the very least watched a video of someone playing one of them)