So, okay, I've been reading up on Fallout 3, and near as I can tell:
1. It uses SecuROM.
2. It only uses SecuROM for a disc check.
3. It doesn't INSTALL SecuROM, it only runs it from the disc.
4. But it's still SecuROM and still does nasty things when it's running.
5. The Steam version doesn't have SecuROM.
I'm having trouble getting confirmation on anything beyond the first two, but that's my understanding from a Google search. If anyone knows more than I do, feel free to correct me. (And if this has been discussed in the Fallout 3 thread, well, my bad; I haven't been reading it since I haven't played the game.)
So, I don't have $50 to blow on the thing anyway, but if I did, it'd come down to a choice between getting the Steam version and getting the boxed copy and installing a no-disc crack. The no-disc crack is less onerous from a user perspective because if, say, the cable goes out, I can still play my game, but if I go the Steam route, I'm not paying for something with SecuROM, even a comparatively inoffensive version of it.