Really though the best way to describe it is it makes the fallout 3 world seem boring. If it wasn't for the mods i would have to take off a point or 2. Oh and if you get stuttering get the d3d9 file, and if you have ati get the alternative d3d9 file so you can still use transparency mutisampling. Im already using over 10 mods just as longer days, smaller ui, centered raised camera, perk every level etc. But literally a new mod is released by the hour since they only have to be ported over.
Of course your on the same engine, so some of the same problems exist. Really a lot more depth in the world and just overall better. Obsidian has taken a decent game and made it great. Take fallout 3, expand it, add more diversity, add more interesting locations, triple the amount of factions, add a better theme, and add more immersion and you have fallout NV.
Take fallout 3, expand it, add more diversity, add more interesting locations, triple the amount of 27 hours in, just getting started.