Doominator3: Yes the level cap is indeed 99, and to the OP, if it really bothers you that there is a time limit , you can always download the first official patch which removes it, but you will never get remotely close to hitting it.
ShadowWalker56: Does the GOG version have the patch to remove the time limit?
Excuse me, I've seem to have mixed up a bit. The official patch I was talking about is actually for Fallout 1 which removes the 500 day limit. However there is an unofficial tool called Sfall which can be found here [url=]http://sourceforge.net/projects/sfall/[/url] Which allows you to tweak a couple of things with the game including the option to remove t he time limit.
The restoration patch also does this along with restoring cut elements of the game, but this requires you to start a new game, where Sfall does not.
Again, I apologize for the mix up