My prediction is that the power source is for the rockets only and that if you run out of power/fuel the suit will act like the power armour from all other games. You just won't be able to zoom around. I hope that's how it works anyway.
If you need power to just move around in it at all then I hope getting the power cells or fuel is achievable enough so that you can use it all the time instead of just bursts. Even if you have to wait to higher levels to get a steady source of power. If not then I'll probably just stick with combat armour.
Edit: Although I hope they make it pretty much impossible to sneak in power armour. It was silly that you could in FO3 and FO:NV.
Edit 2: Actually, after checking out that screenshot of the power armour HUD it looks like even if the suit uses power to walk around it won't be a rapid drain. There's also a counter at the bottom of the gauge which looks like it could be a battery count to recharge. If you could walk around for an hour or so per battery that wouldn't be too bad. Obviously firing the booster jets would consume power fairly rapidly. The screenshot I'm talking about is on the official Fallout 4 web site.
Edit 3: Ok, that footage on the official FO4 site makes sense. Clunky, tank, no agility, but durable. Like my edit 2 and I'm thinking PA is going to be good if you want to use it. I just hope it's not essential to kill critters like the deathclaws.