Apparently, Microsoft released the source of a fully featured RPG in XNA on apphub: http://create.msdn.com/en-US/education/catalog/sample/roleplaying_game
It has all the features we expect of RPGs: tile based engine, characters, items, even a sideview battle system. And the code is free to use or modify at your convenience. It's a pretty good starting point if you are looking to make an RPG in XNA.
Thats been around since 2008. xP Still, nice find winkio! I'll definitely look into it when I start my RPG project for this semester.
Yeah, I know. I've just been gathering game development resources recently, so I thought I'd post it up.