@TerminallyChill
I like exploration and in that regard, TES style games are really some of the best. The level of detail you get from that first person persective means there is great use of visual storytelling, something that is not the biggest strentgh in isometric games. And yes, despite the overuse (and abuse) of the term in recent years, it is more immersive.
Problem is when combat kicks in. I like my shooters being shooters, I dislike RPGs trying to play like shooters. FNV is certainly an improvement over FO3 in that regard, but it's sill poor design choice overall.
I've posted this before, but I will write it again here - my ideal modern Fallout game.
The basic idea is that during exploration mode you have a third person view where you can zoom in and experience the world up front, or zoom out and have the isometric/top-down view. If you have ever played Dragon Age Origins that will sound familiar.
Next, once combat kicks in the game goes to turn based mode not unlike that of modern XCOM games. Add (optional) cinematic camera angles for different actions in combat - or just keep the camera in that isometric position and watch the bloodbath.
In the end it's not that disimilar from original gameplay but you also get to experience the world better than in, say, Wasteland 2, which basicially utilized similar approach, albeit with dubious results.
Sorry for not quoting your post and replying kinda late - I'm posting from my phone.