Unimpressed. It's advertised as "the biggest update since the introduction of Apple Watch" and I haven't actually noticed any improvements. A few rarely used features are slightly different but I can't think of anything I use that's substantially improved.
There are a few features exclusive to the Ultra hardware that I want, but I'll have upgrade to get them (I probably will, but I'm not particularly happy about having to spend so much money especially since the features I want clearly would be possible without the premium price).
id like the digital crown turning to always control iphone volume.
id like a minimum font size system wide of like 6 pixels so i can know the high temperature of the day.
id like shortcuts to the watch like setting theatre mode and brightness to be reliable.
id like the stocks complication to be up to date before i click it.
id like the now playing screen to be more compatible with 3rd party streaming services instead of pushing apple music on me.
id like a live transcription app of people talking to me, with translation.
id like to be able to find the now playing screen after this update.
id like to be able to control the airplay settings of my phone and home from my watch.