I would be suprised if it was anywhere near the same kind of game - it is being done by a different developer, Troika, who is simply the best RPG maker right now. Honorable mention goes to Bioware, but Arcanum and Fallout were absolute masterpieces.
Your kidding right? Troika didn't make Fallout. Three guys who were on the Fallout team are now with Troika and the Fallout team was a whole heck of lot bigger than three people.
I wouldn't go so far as to call Arcanum a masterpiece. Horrible combat and a horribly unbalanced rule system are too huge a flaw for the game to get that qualifier. Plus, the story was really disappointing "Go stop the evil mastermind from destroying the world 15 minutes after you realized that he and his nefarious scheme even exist." Arcanum had it's good points but it had just as many flaws.
ToEE, nothing more needs to be said.
Vampires has a shot at being good but on the other hand it's an ambitious, first person title (Troika has no experience with fp games). Given Troika's track record I'm going to wait for the reviews before picking up Vampire. Also, anyone who say's that Vampire is a mature title is a moron.