Spiderweb is a small but professional software house, they are around since a long time
Their turnover is in the range of milions usd
I agree with Blade
Dont set too ambitious targets

Oh please. Spiderweb software is Jeff Vogel. Period. They are right here in seattle Washington in my neck of the woods. His two friends Mariann Krizsan and Linda Strout do the web and bookeeping. It's Jeff doing the games- and BTW if you want to include the Exile series add 3 more RPG's to his credit.

Kasey has givin a hint of how he manages it all on his own. Right on the webite says : We buy lots of graphics and pay well (lump sum payments, full rights, no royalties). Please send us a link to a web page with your portfolio or samples of your work.

Or if you perfer a more direct example actually using 3dGameStudio take a peek here http://www.direct2drive.com/3/460/product/Buy-Daemonica-Download

Daemonica if you remember the AUM interview is 2 guys. It's not a strick RPG- more of an adventure- but represents the size of a gameworld two guys have actually done in the A6 engine that could be pulled off by any other guy or two.

Now granted I wouldn't recommend a massive RPG for a first learning project but once that learning curve is past I see no reason to forego the idea. You purchase assets here and there as money allows while you brainstorm and plan the world, combat system and write quests and so on.

Independantly I don't know if I'd go 1st person 3d ala Oblivion. Graphic wise a Bauldur's Gate approach is easier to pull as the top down view hides a lot of lacking graphics. Daemonica suceeds by taking this approach. 1st person I think the game would have suffered. Still on the flip side people still download and play Duex Ex dispite the dated graphics so I suppose 3d 1st person could be done but overall with independant art justs looks more acceptable using the top down approach.

But there's two examples it can be done. Do a couple of smaller projects to get the system down and once comfortable go for it. Don't let the nay-sayers put you off. Thuer approach is like a 3d shooter- which I think is silly. Shelves are full of corporate eye candy 3d shooters your never be able to compete against. Independants need to fill the gaps that the big houses ignore. Mainly wargames and hardcore RPG's that are targeted at a more mature audience as well as old style adventure games that most shy against doing- much like the golden years of the 80's and 90s when Arena, Fallout, Darklands and others dominated the scene. (all games you wouldn't let a console kid near BTW and exactly why Oblivion Fails as a true followup in the series. )

Give me a true RPG game like the original Fallout and I'd buy it bad graphics and all. Give me another poor copy of Doom and you couldn't pay me to play it.