Nwn..

[Drawde]

Should be out in the UK on the 28th (a week's time).
I wasn't that excited about NWN until I downloaded the toolset beta demo a few weeks ago, I was incredibly impressed at how powerful but easy to use it is, you can create just about any environment, NPC or item imaginable (the component-based system for armour and weapon appearance is very good) in a few minutes (assuming it doesn't crash that is, hopefully the full version should be more stable).
The only thing I'm concerned about is that you can only have a single character, rather than a party as in BG2, IWD etc. This is fine for a first-person RPG like MW or EQ but in a D&D game could make things very difficult.