Lets take a look:

* Bethesda licenses 3 Fallout games.
* Bethesda buys all Fallout games.
* gamesas starts work on Fallout Online.
* gamesas hires Masthead Studios.
* Bethesda sues gamesas.
* Bethesda wins Fallout franchise.
* gamesas cancels Fallout Online.
* Masthead continues work on Project V13.

gamesas may have cancelled Fallout Online, but you can check their games page which has been updated that Project Vault 13 is still in development. However, because removing all the Fallout references is going to take some work, it lists it down as TBA. This is likely due to the fact that gamesas and Masthead Studios are licensed to develop a MMOG, meaning that they will finish the game. But the likely 2013, maybe 2014 release date infers that they are now further in development because they have to remove everything Fallout. Chances are that the game will still be post-apocalyptic. Also, Masthead Studios website still states the same, but the fallouton-line website will be gone within the month.