With the introduction of "W" ultra, I believe Yang is a great contender for using it. Ultra 1 is great for raw damage after a focus, anti airing, and as a combo ended.
Ultra 2 is great for fireball reads, pre-emptive anti airing, and Fadc damage.
Basic combo - St.lp, St.lp, Cr.mk, H. slash, H. slash, Fadc into Cl.mk.
Double ultra - Ultra 1 292 / Fadc Ultra 2 - 242
Ultra 1 combo - 330 / Fadc - 0
Ultra 2 combo - 261 / Fadc - 298
Raw Ultra 1 > Raw Ultra 2
The combo was done in the corner with full ultra bar.
I prefer to use the W Ultra for the versatility behind using Ultra 1 for anti airing, invul on wakeup, and combo ended while still being able to keep Ultra 2 mainly for Fadc damage.
The damage difference really comes down to preference for the user.
I made a separate thread because without a doubt someone is going to ask. And I didn't want to post it in the stickies due to get being lost after one page.
SF5 - Raaashhidoo, Vega, Fang