That should go without saying, though. Even with everyone’s Ultra at a “perfect” level, I would prefer some changes to it.
Personally, I would like to be able to keep my Ultra from round to round, but that would require a complete redo of the system, or else people would start rounds with full Ultra every time.
There should also be a way to earn your meter, so that people who are losing don’t just get a second chance. Maybe if, any time you use a FA in a combo, the total damage/number or hits dealt is turned into Ultra meter. IE: Lv2 FA, combo or combo, FA, combo. If it was designed to be based on number of hits to gain meter, then the player can choose to either deal more damage to his opponent NOW or poke at him a bit more to go for the bigger Ultra Combo later.