The only JRPG I've actually played for any significant amount of time was Final Fantasy VII (got to the beginning of the third disc) so I don't have a great frame of reference with which to compare, but I've heard good things about Suikoden.
It's another one of the PS1 classics that was recently released on PSN. Anyone familiar with this game?

drop what you're doing and play FF6.

I feel like playing an RPG without a lot of exposition. Without lengthy intro sequences that bore me before I get to the action. I just want to start whacking at enemies and watch my attack numbers get increasingly damaging.

Call of Duty 4 online play

Sounds like you want something more diablo-like than suikoden-like. Try Titan Quest, Dungeon Siege or the very Diablo II.

if you've got a psp, you can't go wrong with untold legends 2.

Or Sacred Gold.

Or Divine Divinity. One of the hardest yet great rpg I've played.

Oh that one is a good one. An action RPG with deep RPG elements. And yes it is hard as hell.

I bought Diablo II a few months ago but got bored of it after a few dungeons. I got sick of using town portal scrolls everytime I slay a few enemies and fill up my inventory. Also there was really no sense of challenge, progression, and strategy at all. Winning battles essentially boils down to whether or not your level is high enough to click endlessly through hordes of enemies.

That's the essence of the Hack'n Slash. If you want something more "tactical", you can always try my favourite genre: the SRPG. Vandal Hearts, FF: Tactics, Disgaea, Fire Emblem, Fantasy Wars or King's Bounty: The Legend are just a good example on different platforms.

Is the second "Dungeon Siege" any good?

I bought Dungeon Siege 2 Deluxe Edition because it was really cheap, but is not a really good game. I mean, for less than 10$ is OK, but I would not pay more than that.

Thank you.