Whilst I believe that the time between sequels for studios is shrinking rapidly, especially now that "franchise" series tend to be yearly money makers for some companies (see: Call of Duty, Assassin's Creed, etc) I pretty much doubt a decent Fallout title would surface before 2014. If they were this far along for a fall 2012 release, we'd have seen this trailer back at E3 hands down. Most companies start marketing, at least virally and using gaming media about a year to two years out from the game even being DONE, let alone released. How long ago did we see a trailer for Final Fantasy Versus and how long til its release?
What you might have stumbled upon is perhaps some sort of DLC for New Vegas. That's about the best expected outcome for it. Otherwise you'd have seen the trailer at some big special event when tons of people are watching, not sneaked out like an egg fart in church on some dude's piffy (unofficial) youtube channel.
Looks to me like someone just wanted to apply for a job with Bethesda without filling out an application.
What you might have stumbled upon is perhaps some sort of DLC for New Vegas. That's about the best expected outcome for it. Otherwise you'd have seen the trailer at some big special event when tons of people are watching, not sneaked out like an egg fart in church on some dude's piffy (unofficial) youtube channel.
Looks to me like someone just wanted to apply for a job with Bethesda without filling out an application.