Planescape: Torment was watered down for me in that it was complexity in subtlety somehow masking the incomprehensible mess that lay beneath the stylistic elements.
I think the only true and relevant examples are games that attempt to perform beyond adequately in all measures, a la Ultima VI, a la Fallout 1, unfortunately, these games are few and far in between and I don't consider Planescape: Torment one of them because much like Fallout 3 it merely focuses on one aspect (story, dialogue and style in PS:T's case) while suffering inexcusably in others. However, unlike PS:T, there is no single element of gameplay that provides any exceptional content, so the fact that Fallout 3 is undeniably average and unimpressive proves that the hype, pre-release and post, it has garnered is wholly undeserved and only doled out by either those that do not understand what makes a great game, or "gaming journalists" attempting to appeal to their sources by presenting positive "analysis" (quote for the arguable legitimacy of these "analysis" pieces that they produce).
So while I applaud PS:T for its story and excellent dialogue, along with a breadth of choice in interacting with NPCs (however lackluster some consequences may be in their effect), I cannot hold it as a true example of a game that wasn't watered down in any respect, it was certainly drawn back in the combat and character development aspect in order to focus on the story, so it can be argued that the game isn't even much of any RPG since you can replay with the same exact character (high wisdom, intelligence, charisma, etc.) and play through with a different alignment, then poof, you're done. However, that is stark contrast to a game like Fallout 3 which doesn't even offer a glimmer of hope when it comes to variety in replayability since no matter what sort of character you make, each successive playthrough is inherently dull.
Funny how a game that offers entertaining replayability only if you make the same exact character (PS:T) but alter only your choices, somehow rises above a game that allows you to make a large variety of differing characters and various choices in gameplay but fails entirely in engaging the player in repeated playthroughs.
Mmm, maybe I've been too hard on PS:T, with that line of thought I just realized that there's a bit of thoughtful and eloquent game design behind a game that can offer a different experience with the same exact character each time through. However, I still hold it against the game that you cannot make a viable fighter or thief without having them being especially useless.
But I digress, if there are any games that I would hold Fallout 3 up to in comparison in order to evaluate its depth, it would be Fallout 1 or Ultima VI, games which both provide elaborate and functional mechanics in combat, dialogue, and exploration while suffering no loss of quality in other aspects.
