Yes, but Fallout games previous to 3 were nonlinear. Its upsetting Bethesda had to break the chain.
The way I see it, it's hard to have both better graphics, and work on a story that can branch off in numerous ways without spending a lot of time on it. With the original FOs, the graphics were rather simple compared to today, so they had more time to work on story. Which seems to be a problem with a lot of modern games, they sacrifice quality storyline for WOW GRAPHICS SHINY COOL EXPLOSIONS YEAH SO REAL. FO3 came first, and then NV came and improved on that a bit, so in essence it's just another FO3. It never improved a whole lot on graphics. And that's not a bad thing at all.