Holly crap does this ever look like Gears of War. I knew GoW was the pilot for the engine, but expected the next UT to be more like the previous with the new engine's power. Looks like they are adding a story to UT, as I don't think they are making any more Unreal games (the single player ones).
Anyway check out this trailer: http://ve3d.ign.com/videos/18309/PC/Unreal-Tournament-III (http://ve3d.ign.com/videos/18309/PC/Unreal-Tournament-III)
Looks pretty cool, let's hope it's as fun to play as that video was to watch!
They actually brought that up on the 1UP podcast on the Friday. Guess its a must have PS3 game.