I just finished covering an entire plane with Ultracoat lite transparent purple. (ultracote is the same thing as oracover - just 2 names for the same product)

The iron needs to be about 200 degress I think. I use a drop of water to test. If it sizzles, it is above 212.

I found this particular product no more difficult to use than the others (monocoat and regular ultracote, black baron etc.). If this is your first experience with any iron on covering, then some general tips might be in order:

when covering solid sheet balsa (like a aileron strip or fuselage side) , try tacking down one end and stretching to the other end and tacking it. then run the iron doen the middle and work from the middle out.

Don't be afraid to pull this material tight if you are getting wrinkles.