I quite liked Fallout 3. It wasn't Fallout 1 & 2 but really, nothing else will ever be Fallout 1 & 2. I grew up on those games and they still form a pretty strong benchmark for many aspects of what a game can be. Play them, play them again, then play them again and let them go... but maybe play them once more. And in between revisiting those old gems, come join us in 2009, a lot of good games have been released since then, some of them just as good as Fallout, seriously.
On topic though, this game is being "made" by Interplay, the dudes who made those first two games we all love so much. My hope is that if this game ever materialises that Interplay know what they're doing enough to realise that the standard MMO formula would not make a good Fallout game.
That said, those screens, if they are real, definetely have the appearance of something quickly cobbled together to support their court case.