Oblivion

Honestly, I am aware it's not exactly the worst game ever made, but for me, considering the huge marketing hype and my own expectations after Morrowind, for me it was a HUGE let down, so I can safely say it's the game that caused me the biggest pain in my gaming history.
I suppose if we're talking about our biggest disappointment of late then it has to be Skyrim for me. The likes of Oblivion and the aforementioned Two Worlds felt wonderful in comparison, but Skyrim just felt dead. I still can't put my finger on its lack of appeal: even though there were specific things I didn't like such as the voice acting, the interface, the mannequin-like PC, none of them really seems to explain why I found it a turn-off. Maybe it was just the sheer number of things that failed to connect with me. It was certainly my disappointment of the year, eclipsing even Dragon Age 2, though I suppose that's disingenuous as I actually enjoyed DA2, it was just too many annoyances and cut corners that spoiled it for me.
Arcania is one I do agree with. I really couldn't play further than I'd managed to get in the demo, it just felt too uninspired and again, that all-too-common complaint of recent games, it felt unfinished. I did comment at one point that perhaps I should've stuck it out, maybe it gets better, but the unanimous reply was "no, it doesn't."