Although I am new to this digital arena, it seems to me that SanDisk is a very reliable brand. I have the 128M card and am very happy with it at this point. The difference (from what I am told) between it and the "ultra" model is the speed. And the only time this is going to have a noticeable effect is A.) when taking rapid successive shots (i.e. holding down the shutter release), B.) transferring pics to the computer, or C.) deleting pics. As for recording, unless you have a high speed camera it wont make a difference cause if your camera cant write fast then whats the point of having a high speed card.
Just what I have been told . . . .
I have heard that there are some generic brands of CF I and II cards, but those statements always ended with "you get what you pay for"
Let me know what you find out, as I would like to get another card as well.