I've mainly played fantasy RPGs, from Ultima Underworld 2: Labyrinth of Worlds, through Morrowind and Oblivion to Lord of the Rings Online. I got lured away from fantasy to Fallout 3 a few years ago, and since then I've mainly played that and Fallout: New Vegas. I've enjoyed the emphasis on moral choice and story in FNV matched by the 1st player action and can't help wondering what single player RPGs on the PC are out now or previously that offer a quality of story, not giving you a pre made character to play and depth? I'm aware of Skyrim obviously but I believe from what I've read that it's more graphics, not so much moral choice (if I'm wrong please tell me). So basically I guess I'm looking for a fantasy version of Fallout New Vegas, if such a thing exists!

There are moral choices in Skyrim, but not enough to give you the big wow. Do you insist on 1st person perspective or do you accept isometic view too?

There are more moral choices in Skyrim than Oblivion and Morrowind, but hardly enough to make them worthwhile, and definitely not as many as New Vegas. I'm not sure what game would fit your decriptions though. Honestly, for the open world / first person action perspective, Skyrim is your best bet. Kingdom's of Alumur and Dragon's Dogma also sound similar, though I haven't personally played them.

I was about to mention The Witcher until you said "No premade characters". Ah well.

There's not much really out there in this genre.

Arcanum.

I'd look into playing Knights of the Old Republic (both of them, though the first is better if you can only play one). It's a relatively linear game, but has a lot of moral choices which will ultimately influence the game's outcome. You can also look into Dragon Age: Origins, which I've heard really good things about. I personally haven't played it, but you might look into it.

Dragon Age: Origins is the only thing I can think of.

Screw the "no pre-made characters" - I hesitated playing The Witcher because of that, but when I finally got into it and through the first section tutorial and got the hang of the combat and got into the story, I realized that I actually made Geralt unique for me. It's a terrific game. PLAY IT! Dooooo eeeeeet! And Witcher 2.

My other favorite fantasy RPG is Dragon Age: Origins. (Don't bother with their second game in the series though.) The first one, you create your character, you have different origin stories, you make some interesting choices and it's a fun, traditional RPG done really really well, with great dialog and voice acting.

Ok thanks to everyone, I'll have a look at Dragon Age

Kingdom Of Amalur is one of my favorite games.
I love the world, it is big and gives me a stranger feeling.
I love how i can customize my character by becoming a warrior
or a warrior/rogue or even a warrior/rogue/wizard
even after beating the game long ago i still find a lot of things to do.

Someone's lent me the Game of Thrones books, and I've seen that there's an RPG coming out based on these. I'm enjoying the books so far - is the game worth a look?

If you're prepared to branch out from fantasy (since you liked FO3 and FONV), I recommend Vampire: The Masquerade - Bloodlines. Plenty of moral choices, lots of old-school gaming pleasure. It's available at a very reasonable price on Steam these days, and it's very good.

I don't know if it's any good, but never buy a game whose title ends with ": The Game."

The consensus is that the game is flawed. I wouldn't pay full price for it, wait for the inevitable Steam or GG sale.