Yes thats the world record for production 0-100-0... I read an owners 20 page journal on that car... and his ultima was EXTREMELY unreliable. It didn't seem like it was a bad lemon out of a bunch, but rather things needed to be checked and replaced every 100-200 miles.
have driven with 2 of these beasts at several track events. one has stock 350 hp other has z06 400. theyre very fast and nice but interior is almost unusable as normal street car. i would take the open can am version as my top track day choice.
Honestly, I think these things are ugly as balls... Not to mention that what views from the inside I've seen it would be pretty useless as a road car, so in that respect I think it should not be ranked among the fastest road legal cars. You've got to be able to drive it on the road to be a road car!
Ultima builds the best component car in the world. But, the owner still takes care of building the car. Any unreliability was more than likely to be the fault of whoever put the car together or simply the parts that were used. Also, Ultima is constantly updating and making the car better. There are quite a few examples of Ultimas that are extremely fast and also extremely reliable. One that comes to mind is the GTR of Jeff Schwartz.