What makes a RPG good/great?

I've been hearing for so long, debates on what makes a game good or great? Most of the people nowadays say it's the graphics, there are minorities says it's the game play that counts, if it's a RPG, many people are saying it's all about the characters and their attitudes in the game. But, we cannot just choose one side of the coin right? But, with that being said, let's break it down into pieces, and it's up to you and I'll give my own side regarding the matter:

Graphics:

I just want to cite Final Fantasy XIII as an example on how graphics really improved into the 21st century, we went from single lines, to 8-bit, 16-bit etc, you know where I am heading. But graphics alone doesn't make the game, if that's the case, like other people are assuming and nagging, it's like you're reading a manga or a novel, without the gameplay, and you could not comprehend on what are you suppose to do without the story, or how a character in the game respond if he/she doesn't have any persona at all. 

Game Play

True, Final Fantasy XIII supposedly to be on this list, but I don't want to be tagged as a fanboy, and I am not a fanboy, so I picked up Suikoden 2 instead. The gameplay is like where the concept of the auto combat system of FFXIII got its root, well at least in this game, you still need to put command into Auto so they can attack freely, unlike in Final Fantasy XIII where you can set the skills to be used, etc, when going auto combat. Suikoden's gameplay is like a leap forward into the RPG realm, and it's graphics where appealing to many audiences at the time. But without the graphics, and the characters' persona and the story, it would be like playing a board game without the board, and you're just represented by a piece.

Storyline

The beginning of the new leap in RPGs, Xenogears started it. With graphics that are outstanding, great gameplay, almost realistic characters, and what really stands out in this game is the story within the game. You'll never see a story this compelling and complex, unless you haven't played it. But does the story is the barometer of a good RPG? Well thinking about that fact, have you considered reading a novel? Not light novel, just a novel. 

Characters

Sorry if I have to portray Rydia from Final Fantasy IV here, but just for the sake of proving my view on this matter. Characters, are an integral part of a game, especially in RPGs. Well, if we're going to think for a minute and let that sink that in, have you ever admired a celebrity, only based on what he/she is portraying in a movie or a show? It's seems to be a stretch to compare it together, but look at it that perspective.

Personal Thoughts:

True, we gamers chose a certain factor when playing a RPG time and again, and we prefer one thing to another. But, no matter what, they're all important variables that makes a role playing game great. As for me, what really important, aside from the 4 things I've mentioned are the replay value, the enjoyment and the wonderful memories that the game gave to me, not to mention, there are also lessons to be learned if you will look at it deeply.

That is all for now... I hope I shed a light into the matter and brought out anything that I could lay on the table. Always have fun!