According to FGN Online, Unreal version 224 is on its way Real Soon Now, and Unreal Tournament will not ship before E3. Here's the skinny:

The release of the 224 version of Unreal in nearing. In addition, despite a tentative March or April release expected for the obviously excellent Unreal Tournament, Epic has confirmed that the game will not ship before E3. Mark Rein, vice president of the developer, has given details as to a demo release, as well as the emergence of the latest version of Unreal. "There will be a demo of Unreal Tournament sometime prior to it's retail release," he confirmed. "I don't know if we'll do a public beta or not. We'll be releasing the 224 update for Unreal sometime soon and it's got a lot of the same underlying code as the current build of Unreal Tournament, so it should serve as a pretty good test for shaking any engine-related bugs out of Unreal Tournament. We'll certainly be watching for bugs with much enthusiasm.