After the CRB this is now the most referenced book at my gaming table.
This large and gorgeous book home home to pretty much every time you will need for your adventuring careers. The book is easy to read through and organized in a newer, much easier to read fashion. Each chapter is a different colour and represents a different thing, such as Arms and Armor or Wondrous Items.
Speaking of Wondrous Items this chapter is probably my favorite, as it is organized into sub-sections based on what slot of the body the part takes up like Neck, Chest, Eyes ect. This makes searching for the item I want easy and quick to do.
The art in the book is Paizos standard quality, sometimes amazing and sometimes leaves much to imagination. I would have preferred if their were pictures for everything, or at least all the not-so-common items, but that would probably be expecting too much. Some of the pictures don't accurately represent the item they are for, and some even go against the very description of the item.
One thing I was slightly disappointed by was that all the extra gear from all the Adventure Paths didn't make it into here. I mean I have a nice big book with common items already, let move that junk out of the way for NEW stuff please.
Now as for the name, is this book the Ultimate? I would say no, as like I mentioned there are lots of items in Pathfinder that didn't make it into here. However it is still extremely useful and gets used a LOT more than a handful of other books I own. I would say dfinately add this to your collection.