PS3Fanboy: "Fallout 3 is Oblivion set in the post-apocalyptic future. If you don't mind that fact, then you'll probably love this game. From the minute you set eyes on the title, the similarities are obvious. This is still clearly Fallout, though. The world feels lovingly recreated from the original games, but expanded with some Bethesda flair.
One of the biggest downsides of Oblivion (and the entire Elder Scrolls series) has been fixed in Fallout 3. While the game can be played as a first- or third-person shooter, with point and shoot gameplay, this is inadvisable thanks to accuracy and control problems. Instead, a Fallout style targeting system allows you pause the game mid-battle and decide how you'll spend your "action points."