The cloaking field proved to be too much of a game breaker in FO3, though I agree that there is very little reason to use the suit without it.
I agree it had the game breaking factor. But no more than any cloaking or inviso spell from a game like Obl. You can abuse any of them. I do miss the cloaking-while-crouched effect. Alas, If you can get past that whole stupid grandmaw bit, from Lily, the Stealth Boy is a viable opt. But it is still not the same.