NV's choice & consequence went down the drain for me when Vulpes offered me his coin. This was up there with ghoul-Moria from FO3. The few multi-pathed quests the game may have had got lost in the sea of run & fetch quests (really, the game was almost as worse as Gothic 3 in this regard).
I don't consider any FO3 quest to be better than Oblivion's Dark Brotherhood & Thieves Guild questline, let alone Shivering Isles & Knights of the Nine main quests. Only thing FO3 really improves is the voice-over.
TW2 is a good game made by unpretentious developers that listen to their fans. It actually contains some choice & consequence and quests with multiple paths, which is more than I can say for Oblivion. Not to mention, the world is pretty well-fleshed out as well with books and notes scarred around (at least better than Oblivion).