Why are all choices acceptable?
Hircine and I have made a suggestion like this. It involved implementing the Legend of Zelda style targeting system. Zeldas system was Realtime, and You could target with bows, slingshots, and swords. This is the only case I would want it. VATs was good in Fallout 3 but it was hugely unfair, I would hate to see it in TES.
This. I love what we came up with. I don't think Fallout's system, even if balanced, would fit in with TES. The stopping of time in Fallout was to simulate VATS targeting. In TES, I don't have a pip-boy. It would be pretty immersion breaking, and quite ridiculous to have a system the exact same as Fallout in TES.
I think I'd have to go with "maybe - depending on how it's done".
This system could really boost third person. It's always been lacking since Morrowind. Maybe Redguard, but I never played that. Pretty impossible to get my hands on it for less than my soul.
I think we should make a poll about it.