Na the fallout 1 & 2 system worked well not the fallout 3.
Just a need to uppdate it a bit.
Sadly though the games are different. Fallout and Fallout 2 guns are often rare and good guns are even harder to get. They cost alot and are often on the hardest to kill people. Often thats because they have the best weapon, and getting killed alot is part of the fun with the Originals. Its very easy to be killed. And you can't carry alot of weight. Not to mention ammo was also hard to get.
The new Fallouts, you can carry far more than in the Originals, weapons litter the wasteland, as common as bottlecaps, and ammo everywhere, getting killed is no longer considered fun in todays games. People don't like the challenge of it. So in short, there needs to be a weapons degradation system, which means there needs to be a repair system. If weapons into todays Fallouts didn't fall apart, people would have hundreds if not thousands of weapons, which would break the games economy. Not that Fallout 3 had a working one, but it would destroy New Vegas' economy.
The only way to go back to the Original system would mean changing alot of other things and todays fans would hate that. I would love it, but its not going to happen.
One thing I would like is Fallout Tactics system. You sell a couple of the same gun, you get alot of money. But sell dozens of the same gun, you get less and less money for it. To the point were that weapon becomes worthless and there's no point in picking it up.