I've been a long fan of Swype and got so used to it that I could practically text without having to look at the keyboard or hit the right keys and it would still get the words I was trying to type. Gave Ultra a shot after having Swype expire and while it's quite customizable and has lots of options, it's just not as accurate when predicting what words you're trying to spell and it sometimes comes up with words that are hardly even used at all. I find that you have to practically land right on the letters that you want or it won't get the word right. I've messed with the settings but find myself still having to correct many words which I didn't have a problem with on Swype.
For example, I just tried to quickly type: "What are you doing today" which swype gets right almost all the time, Ultra got: "Quay are toy ding tarry".