tb87670: AHHH UFO:ET was horrible. The modders fixed the game more than devs and they ditched it after a month, no patches after that. They got cleared for a prequel is a shock to me.
One of the main modders for UFO:ET is working with them on ET2. That gives me some hope (I've never played ET, just heard it needs a lot of work).
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On the comparison between this and Fallout 3, I expect many people bought it because it was just like Oblivion (and oblivion sold a lot of copies). It provided a similar experience, but set in the Fallout universe.
I know I will never be satisfied until I get a Civilization style continuation of these sorts of series (as in, they add or change some things, but the general style and mechanics of the game remain the same). However, I am in the minority (except around here and it seems places like the codex, NMA and even something awful of all places).
Something I'd like to link to which I forgot about before is this blog post by Shamus Young (those who visit the Escapist will know him for his stuff there).
http://www.shamusyoung.com/twentysidedtale/?p=7759