They've been committed to remaining true to the Fallout IP throughout the entire process, and have what appears to be a very clever conjunction of the traditional Fallout turn based combat, and the ability to free fire as in an FPS - if it works, it's kind of revolutionary.
Beyond that, I read an article last year and one thing that stuck out, was that they had learned a lot from Oblivion (god I hope so, eh?!), and that while still quite epic in scope, Fallout 3 would not be so large as Oblivion, so that every place means something, and all of the characters really get the attention they need in order to come to life.
I am remaining hopeful, as Fallout 3 has simply been one of the games I've wanted to see for..... 10 years now? Longer? If it all goes well, I'd even be willing to shell out a few more bucks if they ported 1 and 2 into the new engine.
