Yeah, combat that's over in one hit doesn't entertain me. Nor am I a big fan of damage multipliers. Personal taste, I guess.
I like J.E. Sawyer's Van Buren combat philosophy though:
I'd like to see fewer damage multipliers, more crippled limbs, more severe penalties to hit the eyes, and crits that ignore a portion of the armor, but never bypass it completely.
I believe that the different called shots should be made more useful overall. Eyes is clearly "the way to go" in the first two Fallout games. It shouldn't just be a "well, duh" choice. Limb crippling should be more common, IMO. Blinding should also have even more dramatic penalties, but the chance to hit the eyes should be reduced even more.