Well to begin: It will be over 100 pages longer- so that right there will tell you that there is substantially more, but I'll give some details:
Characters are built with points- and can vary from 20pt "Mystery Men" to 60+ pt "Cosmic Heroes".
Hero Points & Hero Dice; Setback points, Team-Up Actions. This is in BAM- but there are more uses for the points and dice in UE; and they are now a part of the "core" rules.
New Advantages & Disadvantages.
some of the powers are different. Some have gotten a facelift, others are entirely different, and there are plenty of new powers as well. There are new/changed enhancements & limitations.
Energy is not longer used as the default mechanic. If you have an energy pool for your powers, this is a limitation on the power. There are various other limitations to buy a power that cannot be used infinitely as well.
More advice on running a supers campaign for Narrators. This includes using subplots from the character's own lives (this should be useful for campaign play), creating random encounters for heroes "on patrol" / random adventures, etc.
New weapon rules: weapons work different, and are easier to utilize in the game.
A new category of powers: Intense Training- which includes things like weapon mastery, martial arts mastery, etc.
Extended Checks- Long-term uses of skills. Like inventing something, or reprogramming the ship's console before it self-destructs, etc. These are modeled on the chase scene rules (chase scenes are now just one type of extended check). There are many examples of extended checks that can be run with the heroes. Because any progress is useful, you don't have to rack up a certain number of successes- so everyone can contribute.
It has sections on running various Settings of campaigns: Pulp, Golden Age, Silver Age, Bronze Age, Iron Age, Teen Superheroes, Fantasy Superheroes, Sci-Fi Superheroes, and Cosmic.
Cosmic is a whole new level of power. Characters can smash a planet, reconfigure it, and teleport it to the other side of the galaxy and populate it with little green men if they want to (of course, this is REALLY powerful, but an example of what can be achieved at this level). You can have characters that can alter reality & fate and travel through time at will as well at this level.
Hero/Villain archetypes: dozens of writeups that can be used as pregen characters, or inspiration to make your own. They are written to be customized. So instead of an Apache archer who shoots all sorts of trick arrows, you might have some cadet from the future with a fancy ray-gun that he can turn a dial on to produce all sorts of effects, or a wizard with a wand, etc.
An Index. BASH was so small it didn't need one. But Ultimate Edition will- so you can have all you need to look up at your fingertips. The PDF will also be bookmarked.
The "Dice Roll Chart". Not that you really need one- but for some people, the math involved is a deal breaker. The Dice Roll chart makes this very simple using a retro- color chart to see if you succeed or fail at a task (and how many Hero points you should spend to succeed).
There is a lot more things as well, but I think I covered the big ones here.
Edit: Thought I should also mention the appendix of alternate/optional rules. Things like "Turning Earned Hero Points into XP (whether they are spent or not)", using FUDGE dice instead to run the game, using a d10 dice pool, using playing cards, etc. Also options like Fame rules (which is also good for ongoing campaigns).
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