kendroxide: Have you ever heard of Spiderweb Software, they make a lot of games similar to old school cRPG's. Here's the link:
http://www.spiderwebsoftware.com/
The games he makes are similar to those of the IE, except it's turn based when ever you enter combat. Lots of good role playing, and all of games allow you to make choices (some even severely alter the storyline). Just a fair warning though, the graphics are pretty bad (his newer games are probably on par with Baldur's Gate).
I suggest trying the Avernum series, or Avadon (although a lot more streamlined and linear). You can find some of his games on steam (which is cheaper) or you can get it directly from his website.
Here's a video of one of his games:
http://www.youtube.com/watch?v=YwnYfNLHo0U Adding to this:
If you want REALLY old school then go to the spidweb.com site and track down the now open sourced
Blades of Exile. The graphics are better than, say Ultima 5(but not by a lot) but the game itself is a 'RPG Construction set' so you can play the 3 included scenarios then download more made by other players(or make one yourself if that is your thing).
But if you want to go the more modern route with isometric(but still very dated by modern standards) graphics, a bad magic system and limited to a 4 PC party(BoE and the rest of the Exile games allowed six PCs...and had a better magic system), then try Avernum 2 or 3(I would suggest
Avernum 3 which is a remake of
Exile III: Ruined World because it is better than the first two for various reasons). Or you can buy
Blades of Avernum which is a remake of
Blades of Exile but using the newer Avernum system(bad magic, improved skill system, better graphics, 4 PC party etc.).
And if dated graphics really don't bother you then I would recommend
Natuk. An old school, top-down, party-based CRPG where you create a party of orcs, ogres and half-trolls of various classes such as 'Warrior', 'Scout', 'Shaman' etc., then set out on a quest for revenge against the current Orc emperor(who tried to have you killed but a clerical error landed you in a rat-infested outpost).
The game has some real problems, design-wise but is still very fun and full of Orc-y humor and the item randomization is amongst the best I have seen in a CRPG.
The developer, Tom Proudfoot(famous for Nahlakh and the S.L.A.S.H. version of Nethack) also made a sequel called
Pirates of the Western Sea(aka P.O.W.S.) that is much more like Baldur's Gate in that you create one PC from a pool of 'goody' races and classes(elves, gnomes, humans, etc. and Bards, Warriors, Priests etc.) and several of the game mechanics are vastly improved(but the core problems of Natuk are still there).
The game was never properly finished but it IS playable from start to any of three possible endings. Ship-to-ship artillery/cannons don't work and many of the graphics were not finished(so you will see odd representations for some things) but it is a lot of fun once you get into it.
Also features some graphics by yours truly. ;)