Thanks, @Zef
Everything I hear about the Ultimas is very good. The big advantage for the elipse, if it really is one, would be keeping the lower profile, oval shape. Whichever route I go, I'd eventually like 2 sets of glove rings, so the lower cost of the Elipse is benefit. Now if I can just get a (dry) Fusion liner ...
The Ellipse system is very low profile and light weight (not that weight matters once in the water). The system works...no doubt...and if one wants to retain the low-profile oval shape of the cuff system then this is the way to go. I will share that I am not a fan of the exposed sealing o-ring but I only did a couple of dives with the system on my suit so I do not know if that is really something to be concerned about or not...
...I would have more dives on my set of the Ellipse system but I had to take my Fusion Bullet back to the shop to be sent back to Aqualung due to a leak along the heels of the suit. If you are looking for a dry-core Fusion Bullet, I think there is one for sale on ebay.
-Z