I find that some people reallly like to show off the "power" of their PC.
Personally, I don't mind maxing out the graphics when I first play the game, but after that I do fine tune it for better playability.
However, I have noticed that with UT2k4, if I pump up the graphic setting to the max, I can run around a lot quicker. However, i have noticed a bit of graphic lag if I am running in a big open space.