How are you going to fix them? Traditionally, by finding identical versions of the broken items and cannibalizing them (or by paying a vendor to fix them for you). Your gun is broken, your knife is dull, and your armor is in tatters. More detail usually means a performance hit, but there are three different levels of quality to choose from if you have issues running the biggest textures. Everything from roads, trees, buildings, vehicles, and other objects have been retextured (sky, water, characters, and weapons are untouched).
There's a morbid sort of beauty in a decaying landscape, and the NMCS Texture Pack makes New Vegas even more bleakly attractive.
