Which action RPG has the best combat?

Don't forget Borderlands, it is one of my favorite and currently the game I play the most. Although, its more of an Action/FPS/RPG style with a lot of guns. Three pretty good DLC's and one thats irritating but gives you two extra points to distribute and a bank for all your nice guns.
 
What? Arkane never owned the rights to Might and Magic. Ubisoft owns that IP If I recall.
Also, there were no recent Might and Magic games out to compete with Oblivion in the first place, unless you mean the HoMM series, which is turn based strategy/rpg and isn't competition at all.

Ubisoft may own the M&M IP, but when a company takes the entire studio for a series it effectively kills that IP (at least for a good while). The acquisition was an obvious strategic move for ZeniMax/Bethesda: they stifled a competing series and acquired a veteran dev group in the fantasy genre.

At the time of release in 2006, M&M:DM was THE competitor to Obilivion.
 
It was also an interesting game because of the fact that it showed what could be done with the source engine. Talking main character, being able to see the rest of your body as well as other things. All the things valve didn't do in Hl2.
 
Ubisoft may own the M&M IP, but when a company takes the entire studio for a series it effectively kills that IP (at least for a good while). The acquisition was an obvious strategic move for ZeniMax/Bethesda: they stifled a competing series and acquired a veteran dev group in the fantasy genre.

At the time of release in 2006, M&M:DM was THE competitor to Obilivion.

I don't think it was about Might & Magic, considering the only active franchises at the time are Dark Messiah (which is now dead) and Heroes (which doesn't compete with anything Bethesda).

Arkane excels at a lot of things that Bethesda doesn't really do well, like combat and dungeon design, so it's not that unbelievable to think that they were simply bought up to assist in Elder Scrolls 5.
 
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