Actually, it really is. Look past the textures and bump mapping, Doom3's models are extremely low poly.
Well, I haven't really examined the models in both games from an extreme closeup, so I can't really say... but from what I've witnessed from both games, i like the DOOM III models better (maybe it's the bumpmaps, maybe it's the art direction) and the polycounts seem higher to me (unless i turn on the wireframe mode... then i clearly see they aren't )
Bottom line:
Suppose UT2K3 models are higher in polys, that doesn't really change the situation, as I (and many other people like me) would still consider the models in D3 better looking. After all, polycounts don't matter at all, it's all together, polycounts, art direction, etc... and from these aspects, D3 is a clear winner for me. Just my 2 cents...