Captain: It's a PC game. There is no such thing as Split Screen in Unreal Tournament, ever. Console gamers seem to be amazed at games that are multiplayer only, or don't feature split screen, or have huge content downloads later on -- as a long time PC gamer, this is old hat. In the case of your complaint, it's a consequence of frame rate maximization.
Unless there are significant changes to the PS3 version, I was impressed but not enthralled by UT III. As a long time series veteran, I was... puzzled by the rather odd lack of any serious new content. In fact, practically nothing separates UT III from UT 2k4, and I'm rather surprised Epic put the sequential label on it; I think some of my disappointment from the relative lack of new content came from the fact that the game finally earned the title of "III," which I had assumed would only be applied once Epic had significant new gameplay mechanics to provide. I've tilted heavily towards TF2 thus far, although WoW still dominates way too much of my time anyway so the point is almost moot.
So for me, the game was quite good, but for newcomers, I expect it is excellent. Not having a good deal of new content isn't a big deal if you're entirely new to the franchise anyway :p
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