This is a nice twist on the traditional Woolly Bugger, and using the liquid (mineral oil) filled lace makes for something you really need to see in person. Liquid Lace is the best product I’ve used, so I can’t speak directly on the Ultra-lace, but the idea is the same in that the liquid inside the tubing prevents the tubing from collapsing, thus creating a space where light is free to reflect off of the mylar under body. I’m not entirely sure why white thread was used on this fly as it just get’s markered in later. If the under body was transparent, sure, but seems like we’re adding a few extra steps here. Also, it’s a total pet peeve when I see a natural material like marabou clipped! If I need to shorten a tail, I just grasp the marabou at the length I want and rip the tips away. It still leaves a somewhat natural look, not the abrupt manufactured appearance. I do like the fly, but there are just those couple little sticking points. Happy tying.