I've got to say, UT2014 or 2015 would be amazing. I'd actually spend money and buy it when it came out.
That said, hopefully this isn't UT3. That game blew. It was a completely different type of shooter, that simply had UT2004 models slapped in and visually updated.
If this is faithful, I'm looking forward to:
Decent custom skins.
Custom worlds.
Custom game types.
New and older game modifiers.
Balanced and quick paced shooting (screw hiding behind walls).
Instagib. If you have to ask why you've never played the game.
All of this said, I'm sure they will pump out a CoD in space clone. It's too bad that Epic just doesn't seem to be able to make PC games any more. Unreal Engine is great, but it seems hollow without an Unreal Tournament with which to demonstrate it.