Personally I don't like the layout of the Ultimate. The most used buttons (FF etc) are directly over the screen, which means I have change my grip frequently and keep inadvertently hitting the screen. The number buttons don't bother me since I cannot remember the Station numbers anyway and thus use the Favorite or the PVR Guide. The Smart I really like if it weren't for the fact there's no lighting and I kept hitting the wrong button on the hand held, in the dark. The Hub based remotes are too dependent on the router and can be flaky although, in the Ultimate, you can disable WiFi.
The 900 is still my favorite remote with "minor" flaws. Slight delays after pressing the buttons and no sequences, which I never use anyhow.
Logitech, IMO, should have stuck with the 900 and One design