If it had all the options you wanted, it wouldn't matter if it looked like it did in the original release.
Whilst the lack of options is definately the biggest problem with UT3's UI, there's no two ways about that, it's not the only thing wrong with it, and there would still be complaints even if it had all of 2k4's options, it would still be annoying, infact it would be more so if they just put in more options but did nothing to change the layout and flow, as there would be even more you had to scroll past, and even more menu's to go though.
Just having the options would have greatly boosted the game's appeal, absolutely, and i still do not understand why Epic didn't do it, it would have been pretty easy patching thouse things in, and it would have had a much bigger positive impact on the game than making the Titan pack (atleast that's my belief).
But it would not remove all cause for critisism of the UI, there would still have been complaints, it would still have bad flow, and be wastefull of on-screen information, and people would still say "it feels clunky".
It's just not a good UI layout for a PC game of this type, the way it's set up it would only work effectively if it had very few options, it would have worked if this was a Tomb Raider port, but UT needs more than that, and when you have a lot of options, you do not want to waste screen real-estate like this.
This is where the 2k4 UI beats it over the head, it may not have been a pretty UI, but it delt with the reality of needing many options per screen, most of it's menu's made good use of it's screen real-estate, and you could do what you needed to do on one screen, no scrolling, no need to open sub-menu's (at most you just need to tab between subsections of a small part of the menu, and only for setup stuff you didn't need to access very often), it wasen't perfect, but it had the needed utillity.
UT3's UI just doesen't do that well, there is lots of scrolling, and lots of going back and forth between sub menu's, and this despite it offering much fewer options, it is cumbersome in comparison.
And saying "the 2k4 UI breaks with normal UI design conventions" is missing the point, UT is not a standard game, it needs more options and thus a different kind of UI to work well, go launch a good flightsim and look at thouse UI's, they are set up quite different from your standard FPS game menu, and with good reason, they offer 50x or maybe even 100x the amount of options, so they need to be a different kind of beast to work effectively, and UT needs that aswell, just on a smaller scale.
You run into the problem of 'dumbing' down the game for console players. The fact that they sped the game up to 110% speed or so for the PC would make playing against console players a bit tricky, not to mention the huge hitboxes on the console version, and the auto aim. If they made it match the PC in those regards (ie PC sized hit boxes and no auto aim), average joe six-axis would probably rage quit and cry in two minutes against even a below average UT3 PC gamer. If the opposite was done, it would be completely dumbing down the PC version and the average PC gamers would probably be lifted, skill-wise, many tiers above where they were previously due to the changes making it much easier to hit anything.
Exactly, there are some vital differences between a Console and a PC, the most noticable of which beeing the default input devices, and in a fast paced FPS game, it would have quite an effect!
The console players would either be at a huge disatvantage to the speed and precision of the mouse, or any attemps of correcting this artificially, such as employing auto-aim for consoles, would put the PC player at a big disadvantage (and you can easilly imagine all the "stupid console hax aimbotting!" whines), and in the end, i'll bet you'd find all the players on servers marked "PC ONLY!!" and "PS3 ONLY!!".
The only way around it would be to force PC players to play with a gamepad, but how many PC gamers do you think would buy an UT game with no KB/M support? it sure as hell woulden't, or to force PS3 players to play with KB/M, but that feature has never really taken off on the PS3, it seems the vast majority of it's gamers have no desire to make us of it, so why would they for UT3?
And even that is not the full story, as you may recall, to make maps play on the PS3, you have to lower their poly-count by flagging some meshes as "only render on the PC", and you can imagine how that could become very problematic.. "how did he see me!? i was behind this statue!" "what statue?"