This isn't the opinion of everyone but from my experience seeing this question asked many times before, the overall consensus is that both are excellent games for varying reasons.
Most (but not all) people consider the main positive of Fallout New Vegas to be its storyline and characters which are of a better quality than Fallout 3. The small additions (such as iron sights) are certainly welcomed by many but they don't make or break the game. On the subject of 'breaking' the game; New Vegas has a lot of technical issues many of which have supposedly been ironed out with patches, fixes etc. I cannot vouch for the game being fixed but if you choose to play NV be wary of its notorious problems going in as it has more bugs than F3.
Fallout 3 may not pack the storyline punch of New Vegas but many consider it's game world to be more interesting, a lot of people have also stated that they felt NV's storyline was perhaps too focused and that the player didn't feel as compelled to explore the world they were in. Players loved to roam the lands discovering locations, stumbling upon quests and miniature plot lines. Similar experiences are available for the player in New Vegas but maybe not to the same extent and/or quality.
It is an incredibly difficult question to answer and it really just comes down to your own preferences; make note of everything I've mentioned above and try and make a choice from that.
P.S. Neither game is short but if you are looking for a particularly long experience you might want to consider the fact that Fallout 3 has some excellent DLC; The Pitt, Broken Steel and Point Lookout are all considered great additions. New Vegas has had DLC released too, but very little of it was received well by fans.
EDIT: Interesting to see that quite a posters have gone against the grain, stating the NV has a better world or that the DLC is of a good quality. With that said, forum users on the official Fallout 3/NV sites and Fallout fan sites typically follow the examples I mentioned.
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