Perilar might just be that. It's based on the old Ultima-style turn-based RPGs, and the tiled graphics aren't much to look at these days, but it sounds like good (Net)hacking, slashing, and exploring fun. We're still not talking about the peak of the iPhone's potential as an RPG machine, but Perilar looks like a good first step.
And the best part is that there's a Java version out right now, so you can try before you smack down the $4.99 price. I'm definitely planning on picking it up. Until we get a great original, and solidly addictive fantasy RPG on the iPhone, Perilar seems like it'll help scratch that itch.
[via Touch Arcade]