Will I find good loot at low levels? Is most of the good stuff level scaled?

You can find nearly every type of equipment in the game early on if you know where to look, though it is definitely gets easier the higher your level.

Depends on what you mean by good loot. Is it useful stuff? Is it stuff that sells for a lot of caps?

In the early game you can probably get a decent amount of start up money if you sell all the Courier's Stash items you're not using to Chet.

A lot of the weapons are level-scaled, I think. You won't see marksman carbines or AMRs when you're level 5.

Chet? So not everything can be found early on?

Come on, how do you not know who Chet is. He's the dude who runs the Goodsprings General Store. That's the shop beside the Prospector Saloon. In Goodsprings. The town you start in. He's a miser but he usually has more money (and inventory) than Trudy.

Yeah you will. Be sure to scout every piece of area its hard but possible makes the game more interesting and fun if you take your time to find good stuff. There are many unique junk all over.

What exactly are you looking for? On my current run I was able to get a higher level weapon by level 2. So it is possible for most.

How many weapons compared to Fallout 3?

Tons more. NV dwarfs F3 in this category.

What about armor?

Many kinds of armor although some of the cooler things are found in the DLC.