Overall I was actually impressed.
Although it doesn't run on my system (wide range of systems my ass) very good with zeroed out settings, I did manage to have fun both with bots and online with some peeps. Not ususally the case with 90% of the games I've played. Usually it's dull.
So based on what i've seen, they seemed to have gotten rid of some of the UT2k3/4 crap and mixed in some sweet ass UT99 shit (enforcers, anyone? though they aren't as cool

The heat ray map is SWEET. War of the World like walkers in that map that are once again-- Fun. That word ain't paired with gaming enough anymore these days.
I'm not saying it's the best game of the year, it really probably isn't. But it's a huge improvement in the unreal category. By far in my mind it's the best since UT99, though UT99 still beats it. My only problem is with the range of systems it can run on. I don't care about graphics, let me play with a high framerate...
Honestly this may be pushing me over the edge into getting a 360. I don't know. My main concern at the start was because I would be getting it for one game, and it's not even that great of a game to begin with. But now that I'm seeing other, other new things, I might be changing my mind.