You're talking about VATS or the ability to PAUSE by going to a menu?
If you're talking about either of those I doubt that VATS will be in this considering that it is not part of gamesass Fallout and I also doubt that going to any menu will pause the game because it is an MMO and that'd be ridiculously unfair..
But that's just my two cents... although it going any other way would be a serious games breaker.
Although I am certain Pip Boy will be in game, and I bet the Devs has worked up a very memorable way of making it part of the game. We will just have to wait and see the details. Another drunk conquistador conquering the governor's ball...