I have no idea why this is like this but every other screen shot/video I see shows a lot more then I'm seeing, please help.
My resolution for both desktop and in-game are 1280 x 1024. If you need more information I'll gladly post it.
http://i55.tinypic.com/30auo7s.png

Same problem and solved in fo3 too, you gotta edit pipboy 1st person fov in the falloutprefs.ini. (Press ctrl+t once you opened the text file, then writr pipboy1st and click on find, it will highline it for you). Normal is 55.0, try to set to 63-67 or lowering it!

That's ctrl+F for find.

Thank you very much! worked like a charm.