Ni No Kuni is probably the best traditional JRPG this gen. Try Blue Dragon too. Also Dark/Demons Souls and Nier are phenomenal Japanese-made action RPGs.

Oh and Xenoblade for the Wii. Good luck finding a copy though, you're better off emulating in Dolphin.

Lost Odyssey, I liked it, had a fun combat system and fairly easy learning curve, give it a run if you can find it.

All shin megami tensei games that came out this generation, but I think that goes without saying.

Tales of Vesperia for action RPG

I'd say that Dragon's Dogma is definitely up there. I found it to be worth the money. Although it gets really easy at high levels. I might want to mention that my experience was the Dark Arisen version, I hear it's better than the original.