http://www.crunchgear.com/2009/03/12/military-wrist-computer-takes-over-your-forearm/
Its got 802.11 and runs linux, reckon a few soldiers will be running a networked game or 2. Perhaps even one of those horrible murder simulators that will train them to be merciless killers!!!!!!!!!!!!!

Will it have a quest compass?

Will it play the radio from The Enclave/

Nah, bush is out of power now.
Then again, if its got speakers I'm sure you could play MP3s through it

if it doesn't include a Geiger counter then it is no PipBoy.....a PipGirl maybe ....

Will it automatically help you target every single vital organ on the enemy, but completely ignore the groin?

Brought to you by Fischer Price!

THE BALLS! ARGH, MY BALLS!
Ooooorr, if you're female:
THE OVARIES! ARGH, MY OVARIES!
Eh, well. Yes.

For a similar device of somewhat more pleasing aesthetic design, look here. Sadly, the products were never realised beyond the concept stage (afaik), but that wristcomp looks a damn sight cooler than the clunky military model.

Will it tell me how much more experience I need for the next level?

Funny part is, it's way more advanced then anything in Fallout.

Does it let me select anything in the armory inside my pockets and teleport it to my hands?