I'm a doctor, not a mechanic
From Unreal Wiki, The Unreal Engine Documentation Site
Revision as of 03:22, 18 January 2010 by 126.96.36.199 (1UU == 1cm in 3ds max)
It seems that the unreal unit directly corresponds to the centimeters in 3ds max. I jsut thought this might be helpful for anyone starting a project on UDK, not for UT3.