The new direction kept up the appeal of exploring a post-apocalyptic wasteland and retained plenty of iconic elements from the previous games, including the VATS system and Pip-Boy. That isn't to say that Fallout 3 is a perfect game, though.
The way Bethesda transitioned Fallout and Fallout 2 into an FPS RPG is nothing short of incredible. Fallout 3 certainly turned heads for when it was released in 2008.