User blog comment:Blood Reaper/Next Update accidentally revealed?/@comment-207.74.164.254-20120307172522/@comment-1870265-20120311015830

VATS is established in the lore of Fallout. I don't see something like it fitting with TES, but I digress, they added a mechanic to be forced to go in the third person, so I wouldn't be surprised if they did add something like VATS. (Although I still hope it shall remain in Fallout.)