Probably my favorite RPG of all time. Man, maybe it was because I was younger when it came out, but no story has gotten to me quite the same way as this one.
*SPOILERS AHEAD (which probably won't matter because by now, most of you have played this game)*
My favorite moments that can't be beat:
Cecil becoming a Paladin by "battling" himself.
Kain's betrayal.
The twins turning themselves into stone to save your party.
Getting whooped on by Golbez, only to be re-united with a kick-butt Rydia who saves the day!
The list goes on and on, but this one got it right. The battles were also perfectly-paced and well-balanced. These days, RPGs seem more determined to show off its cool effects and animations rather than let you have a smooth and exciting fight.