I remeber the second or third generation release titles for the PS3 or Xbox 360; games like Assassin′s Creed, Call of Duty 2 or Bioshock; the differences they had with the PC versions, other than higher resolutions and maybe higher quality textures and draw distance where not that much noticable than on their console versions, but as time went by those differences starting showing more and more.
As things stand, Fallout looks to be a first or second generation release title for the new consoles, which by an approximation based on their specs, are decent mid level gaming machines, plus the added benefits of integrated software solutions, means that at least tech wise they will be able to pull a bit further and implement a more rubust Skyrim engine to run the next Fallout...and based on their previous deveopment cycles, the next TES game should be coming 2 years after the release of Fallout, which would be just about the sweet spot whenthe technological limitations of the console hardware would start to peak, but still offer a very servicable game system with little compromises based on hardware...
Now if that means removing Attributes to Fallout or adding kiddie friendly content that is entirely up in the air
EDIT
Moderator its 4 am here...could you fix the title from WHO to HOW sorry about that