I have the "Ultimate" Sub-Rolex, and are not all that excited. It looks fairly good. However it differs from the original Sub in these ways:
1. Crown is to big.
2. Crownguards are wrong.
3. Date is to big, I guess it magnifies something like 3 times and it is easy to see that it is not the original 2,5 times.
4. 904L steel that Rolex uses and the much heavier than the 316L(but also MUCH more expensive!)
5. The end link(SEL) are smooth at the edges, it is not on the original SEL.
6. the side of the bracelet are satin, not polished like the original.
7. The crown are to far from the bazel, if you see the original from the front, you can´t see the metal at the end of the crown.

However the moement is good, and it doesn´t set out while wearing it:-)