Certainly an interesting prospect. You really can't make the movie directly about any of the Fallout games. It just wouldn't work. How would you like to see the bomb in megaton disarmed, knowing that you chose to blow that crappy little junkpile off the face of the planet? No, it just doesn't work well to adapt a direct game --> movie script from a game that thrives on choices and multiple playthroughs.
What does the Fallout series have that would make a good movie though? You have these amazing factions to work with. You've got the Brotherhood of Steel focusing on technology, the Enclave trying to 'rebirth' America and wipe out Mutants. You even have the groups of raiders just preying on whoever they can, and regular folks just fighting for survival. You've got vault dwellers and mutants, ghouls struggling with racism and bigotry.
Fallout is defined by factions and characters that really flesh the story out into a fantastic world. But how did these factions come to life? How did it all really start? Who pushed the button that started it all? What were the direct consequences of the choices all those people made in the moments that lead up to the great war?
I would love to see a movie that showed how the timeline changed, and how the world of fallout was up to and directly after the bombs dropped. The people , the factions and the choices they struggled with both before and after the great war.