There's only a few games out there that I play just for the story and one of those is Mass Effect. Aside from being very well presented, I can't think of any characters that weren't atleast somewhat interesting. Often when I play an RPG there's one or two playable characters that feel like they were added as a joke. Usually some kind of furry that just doesn't belong. Not in Mass Effect. Every character seems to have some measure of importance. In fact out of all of them the human ones are the least interesting, but still interesting nonetheless.
Favorite Game Mechanic
Diablo 2's item system. I love anything in a game that has a random element to it and Diablo 2's items are at the top of the list. Aside from being random there's also a lot of customization in the way your items work, with gems, runes, charms, set items... I could go on all day.
Favorite Character
Probably Geralt from The Witcher. He just seems like a no BS kind of guy. He doesn't wear his emotions on his shoulder and he doesn't whine and moan every time he makes a morally ambiguous decision. When he encounters a problem he thinks it out logically then deals with it. He's not perfect but he knows how to get things done. Also if I ever get around to beating it, The Witcher might trump Mass Effect for story.
Favorite Combat System
That's a tough one. No combat system in an RPG really stands out for me. There's usually a lot of elements that support that combat system but the system itself is lacking. I think I'm going to have to go with Battlefield 2 for this one, just for the amount of variety in the actual combat. There aren't many games out there that allow simultaneous infantry, mechanized and aerial combat and out of those few Battlefield 2 is king. The AI is quite competent too once you mod the game to allow you to add them to larger maps.