In the first few hours of gameplay it seemed Obsidian made a worthy successor to Fallout 3. However once you get some hours into the game you begin experiencing bugs everywhere. Bugs with graphics where objects spawn inside of other objects and very slow framerates. Gameplay bugs where allies began attacking your companions and quest bugs that cause them to fail or not allow completion. Then there are the horrid load times.
Some of the performance glitches can be cleared up by either quiting and restarting the xbox or deleting the system cache. Other problems, such as broken quests, require loading earlier saves and consulting the FNV wiki on what the workaround is.
In comparing this to Fallout 3 I'm reminded of the cliche 'Less is more' as most of the new features don't really add much gameplay value. The exception being the companions. They don't die unless you are in hardcore mode and there is more interaction with them. Each companion has a unique perk that can be very useful.
In retrospect I would have bought this 6 months after release with the expectation many of the bugs would be fixed.