As far as we can tell, Quake 4's multiplayer does indeed go after the speed and feel of Quake III's multiplayer, and it seems to do a pretty good job of re-creating it. The map that was available for play was a very open-ended one that resembled nothing so much as a smaller version of the classic free-for-all map Q3DM12 (aka "The Dredwerkz"). True to Quake 4's single-player game, the multiplayer map's decor was highly industrial and lined with wall-to-wall rusted metal, while the default player models were all human space marines.

Quake 4 Multiplayer Hands-On - Rocket-Fueled Mayhem

Quake 4 Updated Single-Player Impressions - Xbox360 in action