I loved it, however I liked oblivion more. Oblivion with guns is a fair review of the game in my mind. All the real problems with oblivion are in fallout. Stuff like some stats are far more useful (str&agi), some play styles are impractical (stealth in oblv, scientist in fallout)
While the AI has improved a bit in fallout, NPCs still do stupid things like walk in front of your fire and what not.
I just felt like Oblivion had more things to do and places to see then Fallout. I find it rather odd how someone can hate Oblv and love fallout unless they hate melee combat