Epic have confirmed the PC version will have additional graphical options over the console versions:
http://www.beyondunreal.com/content/articles/198_1.php
"We’ve authored our content to support scaling the visual bar to match your system’s specs. With texture streaming support on all platforms, there won’t be much difference in texture fidelity based on your hardware, but high end PCs will see
differences in character detail, dynamic lighting, etc."
Sounds better than the usual "higher res textures and screen resolution"