I doubt they limited anything, actually. To get every rank of every perk, and 10 in all SPECIAL, you'll have to reach well over level 300. Mix in a good soft cap where leveling becomes exponentially slower, and suddenly there's very little point in putting a hard cap on attributes or level or anything. That's partly why the whole "everyone becomes a master of everything" is kinda moot to me, not to mention how nonlinear the leveling system is too. Every character is going to have a different experience based on the choices you make leveling up.

Honestly, I'd rather they didn't have bobbleheads or implants for bumping up our SPECIAL, personally, but without any level cap it doesn't matter much. I just hate how it devalues putting 10 into something at chargen.

I don't think it does devalue it, if anything it may encourage putting a ten in something, especially on a replay. You can get access to the 10th perk in a stat category by putting 10 in something. It may encourage replay as it may dramatically effect the early stages of the game if you are 10 strength one time, and 10 charisma another.

That's why the new system (and lack of a level cap) makes it better in Fallout 4, but in Fallout 3 and New Vegas there was virtually no point in putting a 10 into any stat at chargen since you could just grab a Bobblehead/Implant down the line and make better use of that point elsewhere. And yeah, this time I'm totally starting the game with 10 in a SPECIAL, regardless of implants or bobbleheads or any of that crap.

Some people will waste their time and patience on this and get rewarded for their efforts, but as long as casual players can play normally without penalties, I don't see a problem. This is a SP game, not an MMO.

Besides, grinding exists even in XP-based RPG's and it done all the time in MMOs (called farming XP).

I'm guessing you're referring to the crafting video that shows experience gain when modding weapons? I wasn't a big fan of the Skyrim system at all, but in FO3 we didn't get XP for crafting, but it appears we do in FO4. I hope it's a very small amount and that you don't get XP for every single mod you make, but just for every unique combination or something. In relation to FO3 it would make sense to get XP for crafting, though, as crafting now seems to be a skill/perk rather than something you could automatically do at a workbench if you had the correct schematics.

Well OP if you haven't seen the latest information pertaining to this subject, here you go! Its been confirmed that the Fallout 3 level system is XP based, it will not be like Skyrim -

"Levelling is experience point (XP) based like Fallout 3, not skill-based like Skyrim. But levelling speed is closer to Skyrim, and not as slow as Fallout 3. This means you’ll be getting more opportunities, especially early on, to level up and select a Perk. Additionally, whereas Fallout 3 had an initial level cap of 20, Fallout 4 has no level cap, and we’ve balanced the game to keep the content and challenge going for higher levels.

When you level up, you select a Perk, from a Perk chart within the game." - http://bethesda.net/?utm_source=Twitter.com&utm_medium=Social&utm_campaign=092415-Zur&hootPostID=ed42c6b0210067c7e5652eabe8a7f275#en/events/game/fallout-4s-character-system/2015/09/24/31