http://www.gamevideos.com/video/id/20175
A much better preview than the other ones so far. This one is not just Todd blowing stuff up; we get to hear a bit more details about the actual gameplay mechanics. Still no in-game dialog previews however.
Make no mistake, this is a FPS with light RPG elements. It's not really Oblivion with guns. It's a little better, and from I can get from the interview, they seemed to have fixed and tweaked a lot of stuff from the engine, and improved the overall gameplay aspect. Some things I don't like, like the lockpicking and hacking minigames, while others seem interesting, like the Power Armor perk. Still, I have yet to see anything that convinces me that this is a Fallout sequel.