It's happening! Kind of surprising that they wouldn't hold this for their press conference. Does it seem this year that we have way more pre-annoucements (in anticipation of leaks?) than usual?
I think Jeff said in a recent Bombcast that he was hoping that they would improve the fighting, especially since VATS was totally overpowered in Fallout 3. Personally, I hope to see something drastic like Mass Effect to Mass Effect 2, but given Bethesda's history with combat (Skyrim was secretly extremely mediocre in that regard) I'm not sure I have high hopes.
Update: Saw someone going through the HTML text. Looks like it references the institute, which I believe is the code name for Fallout 4, as well as post-apocalyptic MIT?. I think the rumors of it taking place in Boston look to be more likely than not at this point.