You will be happier with OpenGL IF...
* Your want the very BEST grahpics
* You system has enough horse power for hi-rez textures, 32 bit, 1024 x 768, most eye candy
  turned on 
* You will take the time to tweek your settings. OpenGL can be great but takes some time to    tweek.
I personally prefer OpenGL to D3D its maks a BIG difference in the way the game looks and feels and will NEVER play it again in D3D. It is SUPERIOR !
Download the latestest OpenGL patch from Epic and change your unrealtournament.ini like this:
[OpenGLDrv.OpenGLRenderDevice]
RefreshRate=60
UseTrilinear=False
UseS3TC=True
UseTNT=False
LODBias=0
UseMultiTexture=True
UsePalette=True
UseAlphaPalette=False
You will also have to install the DXT1 texture support files from disk 2. It is very important to follow the configuration for this in order. 
1) Install DirectX 8.0
2) Change the .ini file and save it
3) Install the texture files from disk2
4) Install the opengl driver you downloaded
5) Change the driver that UT uses (in game) from D3D to openGL
Also make sure you are at the latest version 436 BEFORE you do anything.
Go here for the download: 
Epic OpenGL
One caveat: Its best with a GEFORCE card installed as the OpenGL video driver has full support, I'm not so sure this is the case with Voodoo cards so you better check this out first. (if anyone uses a voodoo card)
Go luck and enjoy...