From Gamespot:
Unreal Tournament 3 looks incredible thanks to the latest version of the Unreal Engine, the same one that powers Gears of War and many other games. However, the version found in Unreal Tournament 3 is more evolved than the one used for Gears of War, which makes sense since it has had a year more of development. As with prior games in the series, Epic will ship Unreal Tournament 3 with the latest version of the Unreal editor, which will let players and community members make their own unique mods or levels for the game. These user creations can be played on both the PC and the PlayStation 3. For the latter, user-made content can be made on a PC and transferred to a PS3 using a memory stick. In terms of consoles, the game will be PS3-exclusive at first, though an Xbox 360 version has been announced. (User-created content presents clashes with the closed nature of the Xbox 360; Epic says that it's talking to Microsoft about the situation.)
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So it's not a hardware issue, it's a XBL issue. The 360 will get a UT2K7 port, probably late in 2008, but it looks like it's not going to get the Customized Maps that the PS3 version will get.
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