Well just got the file, Put the opengl file in the ut/system foldier and opened the game and little to my surprise the fonts were all messed up. So if you plan to run UT in S3TC Dont run UT with the Trueform patch.
Works fine when you dont have the ut.cfg file changed for S3TC but once you load up the second cd and change the cfg file dont bother.
The performance differance is:
WITH S3TC on 1024x768 32bit color everything maxed 3xfsaa and 8x Anti filtering I get 127fps
With no S3TC on and just the Trueform patch same settings I got 60fps.
The detail was worse IMO with trueform vs S3TC.