"IGN also grabbed ahold of Pete Hines (PR Bethesda) and asked some questions regarding their upcoming Fallout 3 project and here's a quote:
IGNPC: Can we expect something similar to the work done on Morrowind, in terms of that style of game experience?
Pete Hines: Again, it's early to say, but it wouldn't be a leap of faith to say that we plan to use technologies in development otherwise. You could make some fairly safe leaps of faith that it would be similar in style. We're not going to go away from what it is that we do best. We're not going to suddenly do a top-down isometric Baldur's Gate-style game, because that's not what we do well. "
And
"Gamespy also contacted Pete Hines (Bethesda Softworks Public Relations head) regarding the latest news that Bethesda is going to develop Fallout 3. Here's a snibblet:
GameSpy: Since you now have the rights for the franchise on console, is Fallout 3 also coming to consoles?
Pete Hines: Our intent is to develop and publish the game for a number of platforms.
GameSpy: So are you working with the previous Interplay "Van Buren" assets and developers, or are you starting from scratch with a new engine and assets?
Pete Hines: Too early to talk about that kind of thing.
GameSpy: Finally, will Fallout 3 be from a first- or third-person perspective like the Morrowind series, or isometric, like its predecessors?
Pete Hines: Too early to say, but I imagine it'll probably lean towards using technology that we're developing. "
http://www.nma-fallout.com/
Fallout 3 in name, but I'm worried it will be Morrowind with guns.