I guess they don't want to give anything away just yet, as the Big Reveal isn't for another week (or so)...still, it looks like a *really* delayed teaser for Fallout 3: oh, look...it's Dogmeat. In low-res.

Vault 111...there's some conjecture that it will be in Boston (The Commonwealth). Sure beats the hell out of setting the game in Kansas (official state motto: "At Least It Ain't Nebraska").
I wouldn't mind seeing a Fallout set in China, or other locales. Hey...Fallout: Vatican City! A 20-foot radioactive mutant Pope sounds absolutely terrifying...
I hope the voiced hero is just for the benefit of the teaser. I kinda like my heroes mute.

While I'm fairly confident it won't be an MMO, this brings up something unpleasant: it may be another four or five years until the next TES game.
EDIT: just remembered where I put my Gordon smiley.