Well, it certainly would be more boring if we were to walk around in FO1, but that didn't make overland travel any less boring. Look, FO3 has done the same thing with fast travel. Click the location and off you go. As I said previously, I think it's much more fun to WALK there then fast travel. If that means the map needs to be compressed, well, if you fast travel everywhere, who cares? It could be done more like FO1 in that fast travel enabled map markers could be added to the map when the quest starts or after you talk to someone. I'd still walk, IF I could.
Regardless, I would like to see every destination fully rendered and large enough to explore, and there needs to be SOME wasteland in there somewhere.
If it came down to overland map travel to smallish areas, or a fully rendered compressed map, I'd go with the fully rendered compressed map, because I like to explore.
I see what you're getting at with this. Some people prefer being able to explore every square inch of the world without having to travel on an overmap, some like that overmap method as a way to convey a sense of a larger area, with only being able to investigate the more interesting areas. (ie, the area one square south of Vault 13 exists - you can travel there and exit the overmap, but there's nothing interesting to see there beyond "generic random-encounter map #3.") Myself, I'm fairly ambiguous either way - if you want to have the game take place in a more limited area, then having the entire map rendered out and explorable makes sense. If you want the scope of the game to cover northern California, then I'd think Fallout 1's system would be the way to go.
Not to mention the time scale, as well. In Fallout 1 (less so in Fallout 2, but it still had time-sensitive events,) you had a finite time limit to deal with. Those days of game-time it would take to get from place to place could be a real consideration once that clock started ticking down. For myself at least, I didn't mind that it took me a couple seconds to cover a distance of a few days' worth of travel on the overland map. But it would seem wierd to me, at least, if I spent an hour physically walking from Vault 13 to the Hub and understand that it somehow took me three in-game days to get there. I would find it hard to convey a sense of scale in a world that was so condensed - the originals were supposed to take place over a large expanse of wasteland.
In Fallout 3 it's fine, because the entire game takes place in one localized area - it's as big as it is. (Sure, the DC area is physically smaller in the game than in real-life, but you're not going to notice that too much considering it's all been bombed to hell and gone.) Trying to fit Fallout 1 (especially #2) into that same size area could lead to some troubles.
Not to mention that if you open this hypothetical remake to completely changing something as fundamental as how you get around in the game, it opens it up to any number of other purely arbitrary changes. If you're going to change the travel method, then why not make it all real-time? If you're going that far, then why not have the same ruleset, skills, and attribute implementation as Fallout 3? It's kind of a slippery slope.
Because if you're going to change so much about the game, then why even bother remaking the original games? If you're going to change the entire game, then why not just make a new game from the ground up?
I mean, I could say that if I for some reason really hated how you got around the world in Fallout 3, then it's just not my type of game and I'd be better of playing something. But I could say the same thing about the orignals, as well. If the overmap and the distance travelled is such a drawback to me, then that game probably isn't what I'm looking for in the first place either.