There are a number of things here I just stumbled upon. It's almost seven in the morning so I half read them and I'm having a hard time keeping them straight. So...
Ultimate Arcanum is a mod being worked on by some crazy people. It is an extension of a mod called MultiArcanum which had existed for some time. The idea behind MultiArcanum was to 'move' the campaign into the multiplayer as it's own module.
Now, due to an element of multiplayer being that everything in the game be on one map, period, it was only playable up to the Black Mountain Mines. Not that it mattered, because you had to WALK everywhere. No fast travel. Also you couldn't save your game.
I'm not sure where Ultimate Arcanum is in its development. The webpage is in Russian (assumed from the .ru in the address), and while Google Translate wasn't too shabby, I'm having a hard time keeping my eyes open. I know it has added teleport stones to re-enable fast travel. Currently it only supports the Russian version, but it was built FROM MultiArcanum, which was in English. So IF it gets finished, I think we can expect English support.
There are at least three efforts, at least 2 Russian, to recreate the game in an enhanced engine. Details are sketchy, but it looks like OpenArcanum is the furthest along. Which is good, because that's the English one. I think.
I'm not sure how OpenArcanum or any of the others will stack against HighQuality TownMaps, which I've yet to experience, myself. Regardless, news is news. OpenArcanum was active as of Jan 2011, that date taken from their Facebook page as I couldn't make a date from dude's personal blog, which is linked to at the bottom of this link.
Arcanum: Revolution has its own wiki which is more informative than I thought. It also has some BASIC screenshots which do look quite promising.
Arcanum: Reborn talks a big game. It most recently talked as of Jan 31 2011 (acc to its wiki). The person behind it has some connection to FOnline, the Fallout 2 Online mod*. A:Revo plans to use 3D models (people? objects? both?), and the FOnline engine supports those so this could work. There's no indication of how far along this is.
This seems to be some kind of extension for Ultimate Arcanum, I just now came across it. Looks like a replacement for teleport stones in the for of some kind of buggy. More notable is that it was posted APRIL 27th. It claims a number of bugfixes for Ultimate Arcanum and the promise of an ENGLISH version with the release of the next version.
http://forums.arcanumclub.ru/index.php? ... =8626&st=0
As a final note, I would like to caution anyone from thinking all of these are far-off, foreign ideas that will never be finished, much less put out in English. The Russians, or .ru crowd, have done seriously amazing things for Fallout 2 some of you may not even know of. There's got to be a dozen or so singleplayer mods for F2, many of which with unique art. FOnline is substantially badass.
When they're done, you'll want one.