For the right price, it's worthy as long as you don't want froth.
Positive Product Points
The Ultima is incredibly convenient,easy to use and clean, and it makes a good espresso shot with a tad of crema.
Negative Product Points
The frother is difficult to use and doesn't heat up properly. I end up heating my milk in a microwave and never using the froth wand.
The reason I am happy with this machine is because I bought it like new for $100 (1/4 of the $400 ticket price). The best thing is that it is totally self contained and you never have to deal with messy grounds--it has its own internal bin where the grounds are disposed. You just pour a scoop of new grounds into the chamber, turn the handle, and you're ready to pump a shot. The espresso shot is fine and I can even get a good crema sometimes. The only bad thing about the machine is the inability to make froth. This component of the design is totally non-functional. Luke warm water pours out of the steam wand and barely gets hot enough to make enough steam to even heat the milk, let alone make froth.
I found it for sale on Craigslist.org for $100. I love that!! It is not worth the typical retail price of $399. Don't pay more than $100.
Three Month Followup
I stand by what I wrote. After three months I'm still very happy with this machine. And still puzzled as to why such a great design ended up with a frothing wand system that doesn't work.