I was never attracted to ultralight by the "fast" part; I prefer 10 mile days, or maybe 15 if I have to once in a while. The light part always made a lot of sense, carrying less for whatever distance.
But it's easy to get seduced, and let the "ultra" in ultralight take over, too. I did that, going from a 16 pound base load to 12, initially. (Replacing pack, tent, and kitchen with lighter, more compact versions - pretty basic stuff.) At that point, the bug bit; nothing would do but to squeeze every ounce out. I ended up with a frameless silnylon pack, small shaped tarp, and soda-can kitchen - a 7 pound base load. Thought I'd be happy.
But I wasn't. The bleeding edge gear I had required me to make more compromises than I preferred; saving weight reduced comfort, efficiency, or simplicity. Yes, it was lighter, but the pack was less comfortable - so I wasn't any less tired after those 12 miles. (I was after the initial 16 to 12 reduction.) In camp, it was more hassle for a lower level of comfort (I found my 55-year-old hips wouldn't take a night on a closed-cell pad any more without complaining, the stove was fussier to assemble, etc.)
So, I'm now drifting back up toward that 12 pound base load, and am pretty sure that I'll find I'm light and happy, even if I'm not ultralight and fast.
I'm not knocking ultralighting - far from it. The practitioners of ultralight are some truly innovative people. I've learned a lot from them, and look forward to learning more; I fully expect to benefit from the experience and would anticipate that normal gear evolution will have me down to a 10 pound base load in a few years. But, when I weigh my own personal priorities after my two year experiences with trying to get as light as possible, I'm finding that the extra few pounds of weight is worth it for me.