I was playing the Single Player, but yeah, its great.
I could do the same as you, but at 800x600 (though I could on 1024x768, it just looks sharper at 800x600) and get about 30-55FPS
Not bad I don't think.
We'll have to see about Quake 4 when it comes out though, huh?
Physics engines will be worth looking forward to in the future.
To me, its what makes a game realistic, as well as the graphics of course.
The mind notices niggles in physics, but games are getting better at realistically showing them.