Dhruin
SasqWatch
Emil Pagliarulo has answered questions for 1Up in a new Fallout 3 interview. Let's take a grab on VATS:
More information.
You'll also find some new screens in the article.1UP: The "Vault-Tec Assisted Targeting System" allows for very methodical combat. But you've mentioned that you don't need to use VATS at all. How viable an option is run-n-gun?
EP: You can play the entire game in first- or third-person without ever going into VATS. We never actually force you into VATS for combat. So if you just want to point your weapon and pull the trigger, go for it.
That said, the game is very much an RPG and not a straight FPS, so your effectiveness with any weapon is dictated by your skills, as well as the condition of the weapon. If you find a crappy laser pistol and you've completely ignored the Energy Weapons skill, don't expect to pull a Han Solo anytime soon, in or out of VATS.
Personally, I use the run-n-gun method to take care of the weaker opponents, like Radroaches, and VATS for just about everything else; mostly because I've become addicted to the gory cinematic playback stuff.
More information.