Old thread, I know, but I just sold an Ultra 120 head this past weekend. That was the 3rd Ultra I've owned. In a live situation, the crunch and Ultra channels just don't cut thorugh. That left me with using pedals through the clean channel to get dirty sounds with presence, but the clean channel on the Ultras is weak at best, downright anemic at worst.
So, I sold it and stuck with a blackface Dual Showman, using my pedals through it. The best sounds I've gotten to date, including Marshalls, a Mesa, and other Peaveys I've owned.