I'm classifying this as rumor because, going back through the trail, the sources are games retailers and not Bethesda nor the Australian government. But site Gamerchip is reporting that a Fallout 3 version, minus the drug usage that originally got the game banned, will be available for sale down under. They're taking pre-orders, but you can take pre-orders on a game that lacks a release date, too. Plenty of reasons to be circumspect. Says Gamerchip:

[A]ccording to EB and Game representatives, Australia will be receiving the game, albeit in a modified format. The new, friendlier version, will have the drug use removed that saw the game banned in the first place. Both EB and Game are currently taking pre-orders for the title. One representative from Game, contacted this Thursday night, (after hammering home the "do you want to pre-order?" spiel) said that he had read on their internal communications only an hour before that Fallout 3 would be released this year.

A number of other sites have linked back through to the report (we saw it first through Gamestooge). Our sister site in Australia puts it best:

That's great, EB Games and GAME can say whatever they want, but until I hear word from the OFLC, Red Ant or Bethesda, Fallout 3 is still refused classification. There's also mention that the two retailers are taking preorders, yet, as far as I can tell, the title remains in exile from EB's Oz site. Even if they are, why wouldn't they? That's what retailers do - they take your money. If they have to refund it later, they'll cross that bridge when they come to it.

Fallout 3 Confirmed for Australian Release [Gamerchip, via Gamestooge] Fallout 3 Confirmed for Australian Release? No, Not Yet [Kotaku.au]