Regarding the 103 square taper bb for chorus: I ran these for years, they were smooth, lasted about ten k miles before the bearings needed to either be regreased, by lifting the seals, or replaced. After many miles, when I would take the bb off, the bearings could be taken off the axle easily. There were two on teh drive side, one on the non drive side.
That said, you had to be careful not to overtigten the cups, the bearings would bind. I have no experience with ultra torque, but i have several external bb shimano cranks, and you just pop the arms on, and no binding, even if you are not careful with the setup.
On that note, does the wavy washer on the ut cranks allow for side play? It seems like it would.