In my opinion New Vegas is a great and highly entertaining and engaging game although it lacks the character-building depth and complexity of Oblivion. Thats fine though because New Vegas is meant to be a different experience from the Fantasy-RPG that Oblivion was. It seems that New Vegas carried the player along quite nicely. Staying disciplined enough to follow the missions in a relatively linear order and take what the game gives you without jumping forward and venturing outside the linear path of things was a clever way to funnel to the player better equipment. In fact, following that path would reveal equipment very much needed for the next set of major missions in the game. Nice job by the developers. That kind of framework opens up just enough side missions along the way that allows the player to use as a means of getting those last few hundred experience to reach that next level just when you need to and get those skill points you need to open some locked door or complete a tough mission objective along your way. This allows the player to plan a few steps ahead, juggling things in his head and keep going along his own path. Very well done by the developers.
I found that Oblivion's best items remained a secret through most of the game. I found that I would happen upon secret items merely by chance most of the time. After playing through Oblivion for the second time I began to develop an "Indiana Jones" idea. I thought, "How fun it would be if there was an underlying treasure-hunting thread thoughout the game, where NPCs would indirectly and directly reveal subtle hints about where to find clues as to the existence and/or location of rare, valuable, unique, or much needed items". Its fine for there to be secrets but there should be a balance where there is a method for the player to find out the about the secret through rumors, books, unusual events, or some other such means. This way the player can decide for himself whether to pursue the truth behind the secret further and uncover great treasure and not need to research online for answers or stumble upon the great items by pure chance. These great items can be deeply buried inside of mysteries hidden by enigmas wrapped in riddles. The layers and levels on the way towards discovery of these items are limited only by the imaginations of the developers. This way the player does not merely stumble upon the best and most rare items, he is not held by the hand towards these items, but is given a structure in which to use his own powers of deduction to decipher clues and decide the path to follow towards discovery of much needed rare items.
(I am very much a non-cheater, to the point where I find that I don't even want to read forums because so often people sometimes unintentionally reveal information about locations and such. I would prefer that everything needed to complete the game 100% can be found within the game itself, but that these things can be discovered through a path independant from the main storyline.)