It's not going to miraculously make UT3 become popular, there just isn't the demand for an old style death match game in the face of things like Call of Duty.
Explain Quake Live and it's apparent success then, yeah its free, but UT3 allmost is aswell at the prices its going for thease days (i see it go for $10 USD routinely, even as low as $5 USD on occation), and free or not, QL seems to fly in the face of the "nobody wants arena shooters" argument.
It has long been said that UT3's problem was not it's core gameplay, but the manner in which it was exicuted, and i belive that to be painfully true.
Now they are finally doing something about the horrible exicution of UT3, but will it be enough? is it just too late? who knows, i guess time will tell.
I can say one thing though, they still have lots to do if they want us Offline players to return to this game, a lot of us still find it wanting even with the propposed features of the next patch and the Titan expansion.