Yep, saw it on Blue's. Yellow 5 (that stuff will shrink ya) over at Planet Unreal got some info from Tim Sweeney about what kind of system you need to be able to run the upcoming demo.

The demo should be kickass on a Pentium III / K7 400 MHz or above with 128 megs of memory. It should be solid and acceptable on a Pentium III/K6 300 MHz with 64 megs of memory. It should be playable on any 200 MHz machine with at least 32 megs of memory, but the texture and skin detail settings need to be set to "medium" or "low" for acceptable performance (which is done by default now, so you shouldn't need to tweak). UT now does a pretty thorough job of detecting your CPU speed, 3D card, and RAM, and setting the default detail settings when you first run it. On a wide range of systems we tested on, we tweaked this to achieve the best (in our opinion) speed/detail settings. So, users shouldn't have to do a lot of tweaking to get acceptable performance. Still, the demo is the first time a widespread audience will get to try the code, so we welcome any feedback on performance, to help us improve the default settings for different hardware. 3D cards: The best performance by far now is on Voodoo3's with Glide. Next up are Voodoo2's, TNT2's, Savage4, and the Matrox G400. The Direct3D cards will improve in performance nicely once we update the demo for DirectX7, which has improved performance. The next tier is the Voodoo1, TNT1, Rage 128, and software renderer. They're all about equal in overall performance. Fortunately, those crazy "advanced options" settings that Unreal 1 was so dependent on shouldn't be necessary for anyone except the ultra hard-core users. Now we expose nearly all the interesting options through the in-game menus, which are a more self-explanatory than Unreal 1's.