They have mentioned several enchancements to third person. These include:
* The camera is placed more to the side of your character (farther right) to allow you to actually see where your aiming.
* You cannot zoom in or out in third person, its fixed at one level.
* Accuracy is not affected by being in third person, like it supposedly was in FO3.
* You cannot see below your characters waste to hide the poor walking animations, and increase immersion.
* Third person animation quality such as reloading, firing, and wheeling back from getting hit or shot have been improved.
Those are the ones I can think off the top of my head.
As for the consoles, it should run a little better as they have made many improvements and tweaks to the game engine since Fo3.