For me the thrill of going out into the wasteland and looking around peoples houses and stuff basically making the best of what I can will be much more fun.It adds a whole hour or so to the game. I doubt your missing too much
You're right, of course, and I'm now kind of on the fence about pre-ordering. It's just that I care a lot about looks, and I think wearing a Vault suit makes me look like a gimp. The Lightweight Leather looks so cool, and this is the only way I can get it, sadly.

Though, to be fair, I don't think a lightweight piece of armour and what I assume to be a below-average shotgun will take much fun away from the beginning of the game. I'll still be looking around for water and food to survive, and the enemies will probably be too hard for me anyway even with the upgraded equipment.
The only thing I don't like too much is the 4 Repair Kits. Now, I love the new Repair mechanics, but I think 4 of them is a bit too much -- I'd prefer 2. As you said, part of the fun is looting everything you can find, just to keep a weapon in shape. But I suppose I'm being picky -- I could just drop two of them.