Muskie: Here's hoping that the peeps who were working on the tweaks to the old version can start making 1.1 even prettier (4K mode, anyone?)
I have doubts any machine would be able to handle that. Keep in mind that (unless I'm mistaken) Outcast is still fully rendered by the CPU. Already in 1080p there's some notable performance drops even on powerful machines, a 4k resolution may fruther reduce the performance by like 75% I guess.
There's always hope that the devs will eventually be able to make the game run in hardware mode, though. Of course hardware accelleration isn't optimized for voxels at all but I can imagine that shaders might be used to render the voxels far more efficiently than it is possible via CPU rendering.