As many posters have said, the Fallout MMO is in development at Interplay:
http://fallout.wikia.com/wiki/Fallout_Online_FAQ
And a TES MMO is most likely being developed by ZeniMax Online too.
Most likely going to be based on old FO rules and graphics and such.
I played FO1 and Fo2, I would think that multiplayer would fail.
The SPECIAL rules will likely be more faithful to FO1 and 2 than the FO3 ones are (e.g. traits), but the graphics will not be from FO1 and 2. It would be silly to release a game now with 1997 graphics.
Go play Run Like Hell. Now tell me they make good games. Face it, FO3>FO1 and 2.
Run Like Hell was made by an entirely different division of Interplay than Fallout 1 and 2. And Chris Taylor, one of the original makers of Fallout is in charge of the MMO.
And face it, trying to convince everyone that FO3 is superior just because
you like it more is silly.