Carried over from yesterday: The new version 348 UT demo has been released. You can grab it from a few places. I'd recommend trying FilePlanet for the full demo or the patch, or also this SharkyExtreme mirror. You can also try Unreal Universe for the demo and the patch. If you guys are hosting the file anywhere else, please fell free to list it in the comments. The list of changes since the last demo is pretty damn big. Check it out.

Performance
- Networking bandwidth and server CPU use improved
- A.I. performance improvements and tweaks
- Replicate all player skins in use to clients when joining to avoid hitch when first see new player
- Performance improvements and cleanup of HUD, messaging, and console
- Precache left hand weapon meshes if using left hand.
- Improved dynamic detail dropping to maintain minframerate
- store list BSP nodes for decals to greatly improve decal clipping speed
- sort decals by texture to improve performance
- increased characters per font page for default font to increase performance

Direct3D
- Increased performance by use of vertex buffers
- Optimized for low memory computers

Servers
- Force Respawn option
- Added kickban administrator console command
- Server passwords now work
- Added webserver settings to Start Multiplayer Game
- Listen servers are back in the server list, but show that they are a listen server in Rules
- WWW remote server admin: friendly fire works correctly

Also check what CliffyB had to say about the new demo:

In addition to oodles of misc. improvements, (new pulse skin, menu changes, optimizations, etc...) Steve has also increased the player's drawscale slightly as well as their ambient brightness.

Notice how much easier players are to see now.