http://freespace.virgin.net/hugo.elias/models/m_ik.htm)
should explain it well.
It is the best way to move limbs etc... very useful for doing real-time animations. Of course it might not be feasible without re-writing a large amount of the animation code, and it may just not be worth it. I don't know much about Q3 code and don't have the time to do it myself, otherwise I would. Just a suggestion.
P.S.
It isn't a gameplay change, more of a feature.
EDIT:
Ah, thanks razorace, I was just curious.