Fallout New Vegas (NEHEHEHEH) was good. It had Bethesda's thumbprints, but Obsidian at least had a good grip on it. If that caused a depression, I think you best avoid Fallout 4...
I don't mean to start a flame war or smth but i always wondered what was so super about F:NV....
Yeah the plot makes more sense ( considering the F3 "heights" in that matter it hardly a noble-prize worthy ... ) and few more things are improved but its the same old F3 with its shitty graphics, wooden voiceovers, stupid fetch quests, locations that make no sense ( no defences, no food supply, no sanitation etc ) and many many "cool" things by Bethesda...
And depression was mainly because i prepared myself for some ubershit epic adventure Fallout2 like and got F3 ver. 2.0...
Same principle applied to Alien:Colonial Marines, Empire Total War and few more ...
I think a non-american Fallout would be a bit of a shame
Non-american Fallout would have one huge advantage : complete freedom lore-wise. New factions, locations, history etc. Could be fun if it was to be made by some competent company.