Sorry, no.
I loved Fallout very, very much, but no for MMO's that are for hardocore players, with no RP inside etc.
NO!
Well, munchkins are everywhere - that's right. But there are still a lot of people that cares only about roleplay. I don't know about English server, but on Russian even now there are a lot of clans, that are formed only be playing people: Raiders that are just raiding towns for some loot, Ranges that are hunting everyone with low karma, Headhunters guild, where it's possible to make bounty on someone's head, "Blue jumpsuit" Bar, where it's possible to just sit, eat some rad fruits and drink some rad beer, Wasteland Media, that are just travelling, learning news, and broadcasting them on their radio wave, a group of actors, who ride from town to town and perform some weird stuff, and, of course, the "glorious" Army Of The North, about which it's hard to say: are they hunting player killers, or are they hunting just everything. And that is only a small part.
And, no, it's not an MMO. It's a multiplayer Fallout. Game that allows to play Fallout, but taking in account the other people. Without great bosses, raids, ultimate items of uberness. Even it's author is positioning it like that. Hardcore it's because of fully-lootable corpse, no noob locations, where no hi-level can go, and all that casual stuff from MMOs that serves one need - to make little kiddies not to cry. It's a Fallout, damn you - no one gives a shit about your feelings and there is no centralized government, or law that can punish the opressor. Nothing, even money and armor won't be saved if someone will kill you. You can only ask to give your loot back to you (which only rarely anyone will do). There are only NCR and Vault City, where you will feel safe because weapons are prohibited there. It's a real wild-west because everything with a gun near you is a threat and if you both are using the same way - you keep him covered all the time he is near and watching all his moves.
Just give it a try. If you won't like it - you'll leave.
Edit: one more thing about munchkinism. I draw your attention to the fact that the levelcap on second server is only 21 levels - it's enough only to raise skills of your specialization. You won't find any guy with APA, Gauss Rifle and 800 hp that can do anything in the world with 100% chance. And there is no player that cannot be killed by a group of people. So, as the result: groups of people rules in post-apocalyptic world. Alone you will have a hard time, while even with 2-3 fellows you'll have much bigger survival chances. Especially if they can perform tasks that you can't. Like warrior + crafter + medic + scout.