It runs at a solid 4K 30FPS in "High" and 20FPS in "Ultra" on my system (3080, 5900). There's a crapload of options to play with. Still very buggy and temperamental - the new graphics settings are all moved to the "Reflex" menu (Alt-X). The old settings are still there, but if you monkey with them you get strange things happening.
I had it up to 70FPS forcing DLSS into performance, but most of the options tweaks I was playing with actually got to the point of making me feel motion sick though - a lot of temporal effects and it makes screen movements feel like it's underwater or moving through jello. But if I stuck to the defaults, it would run without that. So I stopped tweaking on it before I threw up on my keyboard, but would love to hear if you guys have any settings tips that are helpful.
It definitely looks prettier - although there is only so much you can do with an ancient game.