Twitch has beaten Pokemon and is currently making steady progress in (an albeit modified) Dark Souls, but can it collectively conquer Fallout 3? My feeling is that it probably will. The Twitch hivemind appears to be capable of anything.
It's early days yet: the playthrough is currently fumbling through the opening vault as I write, with the gruelling task of character creation successfully completed. VATS will no doubt be a huge factor in the playthrough's success, as will careful avoidance of Deathclaws. It's definitely in its teething phase for the moment: trolls are having a field day, but if history repeats they'll quickly fall by the wayside.
You can watch the stream here. Good luck brave (and supernaturally patient) explorers.