Oblivion is an FPS because TES is Bethesda's baby. Really, they can do whatever the hell they want with this IP, because it's wholly theirs.
FOBOS was crap because FO belonged(
![icon_neutral :|](./images/smilies/icon_neutral.gif)
Now Bethesda worked to get the Fallout license, knowing ahead of time the precedent that the name has in RPG lore. Bethesda, as a developer, can be seen as a sort of RPG maker, excluding Oblivion. With this in mind, I believe they are sufficiently aware of what FO3 SHOULD be. The matter is, will they make the game this way?
I believe they made Oblivion what it is because something needed to fight the tide of Japanese shit RPGs on consoles(I don't care if you like them, I think they're totally fake, emo shit). I hope it opened the eyes of those whose only exposure to RPGs were the Final Fantasy Fuck games. I got one of those games and was appalled that they are called RPGs; they're only bland, overdrawn adventure games with high production values. I really think I'd rather watch paint dry or the world turn. But I don't need to tell you guys this.
One thing Fallout is known for is showing that a damn good RPG can be financially successfully. Emil seems like someone with a good head, given what I've seen here and his Looking Glass work. Following Oblivion, Bethesda is probably quite financially secure and in a position to take a risk. Seeing this, I believe FO3 will take on that challenge of being great AND commercially viable. I believe, and very much want, it to be a game that will act as a catalyst for (good)change.
BTW, in case you think that FO3 MIGHT be 2D sprites-
http://www.bethsoft.com/links/job_01310 ... artst.html