Fallout 3 - E3 Hands-On @ IGN

Xbox360.IGN has an early E3 hands-on of Fallout 3, having apparently spent an hour with the game.  Describing it as a hybrid of Fallout 2 and Oblivion, the article also calls it "one of the most impressive video games of the year".  Here's a bit on different options:

In addition to repairing items to create better ones, Fallout 3 players can also interact with their environment to change the way they approach their mission. These interactions can include hacking computers (which presents a mini-game that challenges you to figure out a password from a screen full of gibberish) to control robotic gun turrets, to lock-picking (another mini-game that requires you to move the left thumbstick to adjust your Kirby Grip and the right thumbstick to adjust your screwdriver) so that you can access previously restricted areas.

When coupled with other elements such as limited environmental damage (cars blow up, etc), the fact that monsters avoid combat if they think they can't win, and the player ability to "surrender" to another NPC during combat by holstering your weapon, the world of Fallout 3 becomes real pretty quickly.

On a related note, head over to Briosafreak's blog for a summary of a preview in Xbox World 360 magazine.