My brother just got an Eflite Tribute. It weighs 10 oz. without battery.
Flies really good on Etec 3s 1200 lipos, weight 3 oz.
His has a Himax 2015/4100 brushless motor and the Himax aluminum gearbox with 6:1 ratio. The combo motor gearbox comes with 3 ratios, 4:1, 5:1 and 6:1. The combo sells for around $66.
Can get the motor separately and use GWS D gearbox if preferred, but the Himax box is nice.
12-6 GWS slowfly prop (has to be drilled out to fit the prop adapter).
Castle Creations Phoenix 10 esc.
Berg Microstamp 4 channel receiver.
Three Hitec HS-55 servos.
I'm pretty sure the same stuff would work as well on the Ultimate.