Karma - no. (I don't want karma. I like to decide for myself what's good or bad, not have the game do it for me. Karma was one of the things I did not like with Fallout 3 and New Vegas.)
Karma, in Fallout 2, was the effect of your actions on the people around you. It did not judge your intent. F3, on the other hand, judges your intent. If you give someone water, you must be good. This is stupid, because Karma has nothing to do with judgment.
Karma was not in Fallout, Reputation was in Fallout and F2.
And I'll add that Reputation in Fallout became Karma, in F2.
And, yes, I would like the world to track my actions' effect on the population. If it's called Reputation, so much the better, because Karma isn't a Tamriel thingy.