If you want a 3D porm simulator... play with a 3D porm simulator.
That being said, I thought The Witcher did the whole thing rather nicely. It's basically a 5 second blurred background thing as an explicit portrait of the character you're enjoying zoom in. It made it into a collector's game too, gotta catch 'em all!
In my opinion that was just right, not too little (Fallout 3+NV) and not too much (3D porm simulator)
Example: http://witcher.wikia.com/wiki/File:Painting_six_scene.jpg
I wanted to respond to this particular post.
I'm very glad that FONV did not go THAT route, of all things -- because it's pretty demeaning. I liked the Witcher, but as a FEMALE PLAYER, I did find the fact the tracking down bimbo women to have six with them to collect cards was a little insulting. The scenes and gameplay up to it were tastefully done, but the cards themselves were just wrong. The issue is that adding a collectable card feature actually encourages you to attempt to bed as many women as possible, which really detracts from the game and story and only serves to fuel the side of the male ego that sees women as collectable objects.
That said -- it would be more palatable if there were just as many straight men, gay men, and lisbian women as straight women, so if you really did want to "collect them all" then you'd better be ready to deflate your e-peen and turn gay. (But I guess they wouldn't do THAT, would they?

)
Another poster suggested Fable. I think this would have been an awesome route to have gone.

It's pretty humorous and would be way more worth it than a simple black screen. It doesn't HAVE to be elicit, it can just be good fun.