The fighting system would work well in the Fallout universe since there is limb damage, but make the damage realistic, I don't want to be able to remove a limb with a lead pipe, but I do want to see the limb break and flop there. And I do NOT want to see someone be able to use that limb if I poured half a clip into it, or bashed or sliced it 4 times, it isn't useful anymore.
I know the game isn't based in a whole lot a realism, but it would help a lot with immersion if someone took a baseball bat and snapped a kneecap and that person falls to the ground, but is still shooting. Or you break an arm and the enemy drops their rifle and pulls out a pistol to make up for the unusable limb. It would also make the player feel like they need to use cover more, think about engagements so they don't end up with a broken limb.
Also, bladed weapons should take off limbs of course, but blunt should not, they should just break limbs, and say a bladed weapon takes off a leg mid combat, I would like to see the person live, but still fight until their health drains out from blood loss damage, or you kill them. I hate games that make the missing leg an instant kill.
Anyways, that is my request and opinion on how melee combat should be, it would make Fallout 4 amazing.