While I don't own an ultra-light, I have shot them. It is pretty much the same as my sporting Benellis, just a little smaller and lighter.
With all due respect, comparing a Benelli to a Franchi is similar to comparing a Sig Sauer to a Taurus. The feel and recoil are completely different. That doesn't say one is better than the other. The guns are not alike.
When it comes to autoloaders, I am aware of no other gun which is as reliable as my Benellis. I've had, or do have numerous autos. By their nature, they are a more complicated machines than a pump or double. I have many, many rounds through my Benellis, and have had NO problems. I personally highly recommend the Benelli over Beretta, Browning, or any other auto.
Granted my experience is not with the Ultra light, but mechanicly it is the same critter as my Sport IIs.