With Skyrim released and a TES MMO inbound within this year or the next, the studio we're most interested in, Bethesda Game Studios(BGS), won't be making TES VI their next game.
Not that it isn't currently being brainstormed. And this conclusion is from the fact they won't want to saturate TES.
They did this after Daggerfall which left Todd Howard and a handful of a dev team scrambling to make Morrowind and have it be a financial success(Which it was) unless they wanted Zenimax to shut doors in the late 90s/early 00's.
So their at work on a next-gen console project and for then PCs. This will either be an existing or new IP. All ends point to a Fallout 4/Fallout:Subtitle, or any mix inbetween.
Damn. I didn't want Fallout to have a fully graphical focus as next-gen games typically do that. Or at least the first game does. Examples being Morrowind and Oblivion. Of coarse BGS is a better studio now plus things like more RAM, power, etc. will undoubtedly be more useful.
But since I cut and paste this from another forums topic I'll add to this. First off the distinction between two studios will be made. Obviously BGS is helping with lore and some say but its not their game to build. This projects been being made for awhile, even with people from studios like Obsidian(George Ziets. Think NWN2, FO: New Vegas)
Second off if your worried about lore, let's go over the fact how much Morrowind skimmed past Daggerfall. To the point a morrowind dev was ashamed and quit afterwards because of the disappointment it was to TES fans(This will be familiar. This board houses mainly Morrowind and Oblivion fans who each think they know about TES games, how they function, and the lore than anyone else. Not being a fan of TES who's played all of them as an RPG fan I can tell you unless your from the Arena days your conceptions and ideas of the IP and the entertainment business aren't quite reality.)
Meaning this probably won't hurt the franchise as a whole and lore being overlooked or changed, or the Game itself being different from other games isn't new. It's exactly how TES fans felt when Morrowind came out. Exact feeling and hatred or disappointment.
Plus another IP, Fallout, also had similar recent MMO related pvssyr from fans.
End of the day it'll either be for you or not for you. It isn't ment to bank on every single player TES player out there.