I think the most important aspect for me is the ambiance. Actually,
immersion is a better word for what I describe.
I guess since the immersion depends so much on all the systems working properly and in harmony with each other, along with their quality and ability to make an impact on the player's feelings, immersion encompasses all the suggested features. The larger battles will play a big role, yes. All the other things like object destructibility, melee quality, etc. are required to be as accurate and impacting as humanly possible.
I'm writing an essay at the moment, so I don't want to spend too much time getting into detail.