I think the fact that BMW used a couple of Ultimas as test mules for their new (last year) V8 lent a lot of credence to Ultima as being something more than your average "kit" car. It does have a nicely engineered chassis, BUT I am not sure it is any nicer than several of the chassis designs running around with GT40 shells on them. And I highly doubt it warrants the price difference they demand for the car from an engineering point of view. But, for the moment, it is in a market somewhat unto itself. I looked very closely at the Ultima, but by comparison, for my wife and I, the GT40 is down right roomy.
IMHO, the Ultima is not a very handsome car either.
Regards,
Lynn