The Unreal Development Kit is a vastly updated version of the UT3 Editor.  Initially I had concerns that it didn't come with enough stock content to lend itself to modding or ambitious single map releases.  But it does, and this is a beautiful suite of tools.  And yes, this is old news for those who have been keeping up with Unreal for years.

There is a great assortment of Video Tutorials by 3D Buzz here.  This is where I am starting at least, and I'm already starting to visualize my first UDK map.  🙂