Yes, I rescaled everything based on 1440x800 and it worked out very nicely.
This is quite correct.timer and anti grav boots remain transparent
If you look with an OpenGL based graphics card with the:
GameRenderDevice=OpenGLDrv.OpenGLRenderDevice
you will see everything is transparent, including the health, all the weapons, basically everything.
That is how UT designed it.
The new D3D9Drv also looks like what you seeing but the old D3DDrv is correct or the other way around
But I'm pleased its finally working.
I'll use this Intel card and see if I can somehow make the time and boots background non transparent.