Molten Clouds is currently working on a Fallout 2 remake in Fallout New Vegas, called Fallout Way of Chosen. According to the team, this mod will not stay faithful to Fallout 2 but will have some new features to it. As such, don’t expect a turn-based combat system or an isometric camera; it will be Fallout 2 in Fallout New Vegas.
Story-wise the mod will be built on Fallout 2 with some features from Megamod and Restoration Project. The quests and dialogs are going to remain mostly untouched, excluding some moments. Moreover, new lines of dialogue and the ability to pass/complete the quest via alternate ways will be added.
The mod’s buildings and objects will be a mix of buildings from Fallout 2, 3 and New Vegas. Character advancement system won’t replace skills and traits, but will merge all existing with the new game mechanics. These new additions will be fully integrated in the game and will be used all around the game world.
Although there isn’t any ETA on when it will come out, the team has released a new video showing the Gecko Area. As it noted, though, this is pre-alpha footage and does not demonstrate the quality of the final version as it has many placeholders. Still, it will give you an idea of what this Fallout 2 area will look like in Fallout New Vegas.