i really, really like fo3. its pretty much what I'd imagine an fps fallout would be. You still spend 90% of your time picking through boxes/desks/etc to find loot.
Also it makes exploring more fun, instead of just random encounters(which I almost always just ran away from in FO2). You can actually just roam around and find shit, buildings and raider camps and such. Definitely a lot of fun!
I really don't think the graphics are all that bad, sure they're not like crysis or whatever but for a game of this scale I think they did a hell of a job. Sure its very brown but.. its a post-apocalyptic wasteland, I think if it was much more colorful it wouldn't look right.. thats what happens when shit gets dirty. It turns brown.