This mod was featured on the Bethblog today and wow, it looks stunning! 
http://bethblog.com/index.php/2011/01/17/mod-in-progress-project-nevada/     
 
I still haven't picked up New Vegas yet (waiting for the next steam sale), but after seeing this, I'm definitely looking forward to it. Loved Fallout 3 and the amount of mods with it, and this looks very promising. Very dynamic in terms of pushing more FPS action rather than relying on VATS all the time.
It's done by the same mod crew that did the Fallout 3 Wanderer's Edtion mod.
Here's the trailer for the mod. 
 
  

Give me Mart's Mutant Mod!

I modded the hell out of Fallout 3, but then it sorta made the game unstable and it crashed alot. So im hesitant to try this out but it looks neat. 
 
My new character is supposed to use explosives, that grenade hotkey alone is tempting....

This actually looks a lot more entertaining than using VATs.

Is this just a combat mod, or is it a total conversion?

I'm not good with mods yet, where do I download this and how do I use it?

" I'm not good with mods yet, where do I download this and how do I use it? "

" @Venatio said:

" I'm not good with mods yet, where do I download this and how do I use it? "

I don't know if it's out yet, but this site is fantastic if you're looking for mods.  I believe there is a tutorial on there on how to install and run mods properly. "

" Give me Mart's Mutant Mod! "

Also Im wondering about enhanced zoom, cus I would regularly have enemies not even show until Im like 30 feet away. So is there some other mod stacking to make added zoom useful?

Looks neat. Too bad I have the 360 version of the game. 

Hmm, this is something that may get me to consider purchasing the game. The over reliance on pausing the game to use VATS always turned me off about FO3.

" Hmm, this is something that may get me to consider purchasing the game. The over reliance on pausing the game to use VATS always turned me off about FO3. "

" @President_Barackbar said:

" Hmm, this is something that may get me to consider purchasing the game. The over reliance on pausing the game to use VATS always turned me off about FO3. "

You don't use VATS much in FNV. You recruit Boone (and maybe the floating robot) and put on some power gloves and just start punching anything Boone doesn't kill. "

K. But if you're just sniping people with enhanced zoom, you're not close enough for them to even find you. If there's a group of 3, you can probably shoot them all without them moving. There's a reason the zoom is set to what it is. That doesn't sound like fun either.

Some of the things seem cool, but others are kind of unnecessary or even a step backwards.  Why have aim-down-sights if you're just going to be using the cross-hairs anyway?  I honestly never had the urge to tackle anybody in New Vegas.  Visors and vision modes and adjustable scopes sounds cool though.
 
None of this matters though, because the game crashed on me today and I've sworn it off... at least for a little while.

This looks great, I loved Wanderers Edition of Fallout 3. I hate VATS so mods that make me not have to use it.