In general, Kula doesn’t rely much on meter to do decent damage for BnBs, so it is usually safe to save it for DM/SDM/Neo Max use (most of the time, Ray Spin is the only move I bother to EX with her when I have meter to spare, and even then that’s mainly for carrying a launch combo from midscreen to a corner after a Drive Cancel, but that’s me). Regarding close s.C --> One Inch, you’ll usually want to let both hits connect instead of canceling after the first hit to maximize damage. Though spacing after a jump-in might be viewed as a concern, something like j.C --> close s.C --> f+A --> qcb+B --> f+D --> dp+C will connect if you walk her forward just slightly before hitting with the close s.C (310 damage for an early cancel of close s.C vs. 320 damage for letting both hits of close s. C connect). You can substitute j.D if you want a jumping normal that’ll come out faster, but it does 2 points less damage than j.C (68 vs. 70).
However, if comboing into SDM Diamond Edge (j.C --> close s.C --> f+A --> qcf,qcf+AC), canceling into One Inch after the first hit of close s.C is the way to go in order to do more damage; they’ll be pushed too far away for all 4 hits of the ice to connect otherwise (439 damage for an early cancel vs. 378 damage for both hits of the close s.C).
Since I brought up j.C earlier, a random note is that it does an extra 2 points of damage following a regular jump than it would following a hop (72 vs. 70).
@Hace: Better damage for the corner combo you mentioned if letting both hits of close s.C connect also applies (261 damage for an early cancel vs. 273 for both hits). You could also go with Diamond Breath C after the EX version instead of Diamond Breath A for that combo for even better damage (273 damage for the A version vs. 281 for the C version, both still assuming both hits of the close s.C connect).