This argument was debated hotly in my gaming group a few months ago. As the DM, I had made the transition to 3rd edition and one or two of my players were not happy about it. After talking to them for some time I began to see why they were unhappy with the new game. However, I think what D&D has gained from 3rd edition far outweighs what it has lost (nostalgia aside).
I've DMed through pretty much all the versions of D&D and AD&D - fought dinosaurs on The Isle of Dread, conquered The Temple of Elemental Evil, and witnessed a Paladin in Hell - and I can say with absolute assuredness that 3rd edition is the most complete and systematically sublime edition there has been. I always felt there was something not quite right with the other editions, that they were lacking something. 3rd edition fills the gap. It's not perfect, but it's still damn good, IMHO.
As for any impact on roleplaying, that is entirely in the realm of the DM and has very little to do with the current structure of the rules system. In Neverwinter Nights, the RP aspects will be up to Bioware.
Additionally, though the form of the game has changed somewhat, the subject remains the same. I could understand your objections if WotC had forced all characters to travel by hopping around on one foot and wield giant sticks of celery instead of longswords, but they haven't. You can still do all the things you could in 2nd edition - but faster, in greater variety and more comprehensively.
In NWN you will still swing for the goblin in exactly the same way as Baldur's Gate. It is only the mechanics behind the action that have changed.
Teeran, you're clearly not alone in your misgivings about 3e and I can respect that. Hell, I wrinkled my nose at it initially. However, missing NWN because of preconceptions about the new rules system would be criminal.
