Fallout 1 weapons were designed for effect. I always intended that there be some weapons that were clearly superior to others (just as there are in real life). The idea was to balance everything with ammo availability. Good weapons were supposed to get less ammo. In the original design there was a lot less ammo and the thought was that the player would have to switch weapons fairly often since their weapon of choice would only have a finite number of shots.
Since there were multiple solutions to most challenges, and combat wasn't required for the vast majority of the game, I was perfectly happy with suboptimal design choices during character creation, especially since there are systems in place to swap tagged skills and otherwise develop your character differently after creation.
It makes replay more interesting and I thought it might add something to the outside "social" aspect of the game. Even then, I thought the community around Fallout was very special (pun not intended) and we loved the idea of people chatting in forums about different problems and solutions during the game.
I don't disagree with Josh, with the possible exception of "F1 and F2 had phased obsolescence designed into their weapon skill system, but the player wasn't let in on it that design goal at all." I don't think that was a design goal. It's simply a natural conclusion to the design for effect that we were shooting for (pun intended). I'm guessing he sees that as a problem, I see it as a feature. *shrug*
FO:NV is a very, very good game. They did a lot stuff right with it, including the weapons. Feels more balanced and interestingly designed than in the previous game, but I haven't sat down and anolyzed it at all. I'm just enjoying myself (especially after the last patch) playing it.
FOOs weapons are being designed with a different set of goals in mind, since having suboptimal player builds as part of a multiplayer game is very different than in a single-player adventure (especially of relatively short playing time and player investment required).