I used to want to put out a hip-hop compilation that consisted only of new stories/songs. I wanted there to be a central theme.

Anyways, I ran across this article on XXL - Biggie, Nas or Slick Rick

...About two months ago me, the homie Brain “B.Dot” Miller and King Magazine’s (And Nas Stan) Thomas Golianopoulos argued all day on who’s the best storytellin’ MC Biggie, Slick Rick or Nas. Thomas and B.Dot argued for Nas. To me Rick is the G.O.A.T storyteller, but Big is a very, very, very close second.
...

http://www.xxlmag.com/online/?p=23069 

I'm honestly not sure who I'd go with.

I can think of story telling songs I love offhand though...

"Ms Fat Booty"

"Passin Me By"

"Warning" - B.I.G. 

good ones Omnis.

I wish more rappers told stories nowadays 

Id have to vote for Rick on the above argument.

Aceyalone has some enjoyable story rhymes too.

Though my favourite story rap is probably,  'No Regrets' - Aesop Rock

1) 3030 - Deltron

2)Oh Shit - Pharcyde

3)Jay-Z - Lost One 

4)Surviving the Times - Nas

5) Mics of the Roundtable - Hieroglyphics

Honorable Monetion: 

MC Paul Barman - Enter Panman

I dunno dude... I never really saw 3030 as a story rap, but I guess so. 

 Off the top of my head Id say, 'Wacky World of Rapid Transit' for Del.

The whole song is a giant Orwellian allagory. Deltron Z is in the military in a corporately owned nation, refuses to obey and goes to jail. He then escapes and hooks up with dan the automater and (rap)battles his way to starting a peoples revolution through hip hop.

Ok ok, I get it...  jesus TR point taken!

I like the simple quirky stories like Xzibit's,  'Shroomz'