Unreal's graphics were bad ass. And the game rocked too. UT when I first saw the screenshots looked nice (but at that point, I thought it was just a free add on to unreal too). when it finally got released and quake3 had been out, I didn't care for it. UT lacked quite a bit in its character, and the engine didn't have anything special really. Nothing like quake3's curved surfaces (why the hell has that droped compleatly off the face of the earth? Even today games are plagued with the crapiest looking arched windows and crap) and high resolution textures. UT levels were VERY bland looking with repeated textures everywhere. Game play wise it was pretty good.. but so was unreal and all the quake games...well.. 2 being the low point.
How ever I am a HUGE fan of UT2k3 and 4 and will have a nice x800xt waiting for the bundle of joy known as ut2k7 when it comes out!