Here is a clip of what Ben Nitschke and his modeler Chris wrote in 4 days using XNA for the Microsoft competition at the GDC. Keep in mind that they started from scratch and from his blog only reused some font rendering code and that he had never written an RPG before. I think its very impressive stuff and this guy knows his XNA...

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The C# source code for this can be downloaded from his blog page @
http://abi.exdream.com/