I don't recall being able to bleed out in fallout 3.. I could just be forgetting it though.
You couldn't. It just had the whole "location X has been crippled, suffer consequence Y" thing.
Which included taking lots of shots to the head, getting your head "crippled", and all it did was give you some blurries every so often. Crippled leg also just slowed your movement, didn't put you on the ground.
Discuss, what do you think ?
No, I'd rather play a Heroic Fantasy game, where my character can take X hitpoints of damage. If I wanted to play an insta-kill game, I'd play Bushido Blade or Counterstrike - games where the "game" is over in minutes, so dying quickly to a random crit doesn't screw the whole thing up.
Adding, for example, "whoops, shot to the head. You die" to Fallout 3 (where the guns had such spread that random bullets were flying everywhere) would just make it a game where you rolled the "ok, do I need to reload my save" lottery several times a fight. That'd be silly.