There is the potential to fix these things, especially the dialogue, which I think Obsidan tends to do especially well. This is why I think it's going to be a perfect fit. What would fit my playstyle nicely is a FO3 with stellar dialogue and well developed quests, while still giving me plenty to explore on my own.
This. And if they can fix/alter VATS, rapid perk accumulation, and slow the leveling process. With Josh at the helm, I'm sure many things will be changed/made better.
The one year dev time for this scares me, but I think they might be able to pull it off.