This is a pretty standard Traxxas box, packed efficiently with 
little space to spare.  The art on the box reflects both of the 
available liveries.  I got the green and blue one.  The Slash 
Ultimate costs $120 more than the regular brushless Slash 4x4.  
Let's review the upgrades as we rebuild the model and see if the value 
is really there.  We'll also see if this version really deserves 
the moniker "Ultimate".
 
     
Here's what comes out of the box.  The body is wrapped in plastic 
to avoid scratching, but is still pinned to the chassis.  The body 
uses a different paint scheme than the standard model, but is not really
 more deluxe in any noticeable way.  There is a
 transmitter and a bag which contains a simplified manual, a parts list,
 and a few simple tools.  The full manual must be downloaded and is
 only available electronically.  The picture of the chassis on the 
right shows the usual nanny warnings that need to be removed.  The 
TQi transmitter actually includes the optional Bluetooth module.  I
 think this is the only Traxxas model that comes with that module in the
 box.  It provides for real time telemetry as well as programming 
of the transmitter and firmware upgrades of both the radio and receiver.
 
     
Time to tear down this entire brand new model and rebuild it from 
scratch.  On the left you can see the links and drive shafts. 
 I'm not going to take the links apart.  The steel 4mm turnbuckle 
links are an upgrade from the brushed Slash, but standard on the 
brushless version.  The drive shafts are sliding universal style 
which is an improvement over drive cups and dog bones, but there are no 
CVDs installed.  A full set of those will cost another $160, so I 
guess this Ultimate version still has a ways to go.  These are a 
slightly reinforced version of the drive shafts on the standard Slash 
versions worth a whopping extra $2 (per corner).  That long 
extruded aluminum center drive shaft is common with the brushless 
Slash.  On the right you can see the electronics package including 
the Velineon brushless system and the digital steering servo.  The 
brushless system is common to the regular brushless Slash, but the high 
speed servo is a $14 upgrade.
 
     
Here are the lovely aluminum GTR shocks which I'm also going to leave 
assembled.  I don't want to have to refill and bleed them.  
These beautiful shocks add about $50 of value compared to the standard 
plastic "Ultra" shocks.  Note that the rear shocks are longer than 
those for the front.  On the right you can see the pile of loose 
plastic parts ready to be re-installed.  These seems to be really 
high quality plastics which is normal for Traxxas.
 
     
The picture on the left shows a pile of hardware, metal parts, gears, 
and bearings.  All those blue parts in the far left bin are 
aluminum upgrades.  We'll go through them in detail as they come up
 in the build.  The picture on the right shows the LCG (Low Center 
of Gravity) chassis which only comes on the Ultimate Slash.  It is 
optional on the others.  This chassis doesn't cost any more, it is 
just different.  While it certainly improves handling by reducing 
body roll, it also greatly reduces ground clearance which is terrible in
 grass.  I'd only recommend this for driving on dirt and 
gravel.  I didn't remove the radio box because the receiver is 
taped down.  This is a 5 channel TQi receiver with TSM (Traxxas 
Stability Management) and telemetry.  The brushed version comes 
with a much simpler 3-channel TQ receiver, but this is common to the 
brushless version.  The Ultimate actually comes with the telemetry 
sensors though.  More to come.
 
     
This gear differential is common to the brushless edition and uses 
bigger teeth and a different ratio than the brushed version (37 vs 47 
teeth on the ring gear, 2.84:1 vs 3.92:1 ratio), but doesn't cost any 
more.  Presumably the brushless motor turns much faster so needs a 
lower ratio.  An optional set of spiral cut gear cost 3 times as 
much. I'm not sure what the benefit on the spiral gears is supposed to 
be apart from noise.  These metal gears are particularly 
noisy.  Even though this is a sealed diff, it appears to be greased
 rather than filled with oil.  Apparently, from the factory, the 
rear diff is filled with grease and the front with 30k oil.  I 
didn't realize the distinction when I was building (no instructions), so
 luckily this one ended up in the rear by chance.  Murphy's Law 
suggests than shouldn't have happened, so I'm sure something else will 
come back to bite me and even things out.
 
     
Here I'm installing the rear differential into the housing which then 
integrates with the shock tower as shown.  Note how thick the top 
braces are on that shock tower.  Even though the shocks install in 
single shear (like pretty much every other kit), I shouldn't have to 
worry about twisting.
Believe it or not, even the basic version of the Slash uses these 
aluminum tie bars to support the lower control pivot shafts.  The 
control arms themselves are a reinforced version worth an extra $2, only
 standard on the Ultimate.  Those lovely machined uprights are also
 unique to the Ultimate and a $25 upgrade.  12mm aluminum wheel 
hexes are available but not standard.  Note the large number of 
installation location choices for the inboard ends of the camber links.
Now the massive rear bumper can be installed.  This offers the rear
 gearbox a lot of protection from impacts, and also helps support the 
large overhanging body.  On the right I've also installed those 
lovely blue GTR shocks.
The rear sway bar installed here is unique to the Ultimate and a $25 
value (front and rear sway bar come together for this price).  The 
completed rear suspension module is shown on the right.
The front differential is build just like the rear except that it is 
filled with oil rather than grease.  On the right the differential 
has been installed into the front housing and the shock tower attached.
These lovely blue anodized, machined aluminum caster blocks and steering
 knuckles are upgrades unique to the Ultimate edition a $75 value. 
 There's a good chance that plastic is actually a better choice here due
 the resilience of the material after an impact, but aluminum sure does 
look good.  Like the rear, the front uses strengthened lower arms 
and steel turnbuckle camber links.  On the right you can see the 
front bumper which uses an oval section as a crush zone to absorb 
impact.  It works very well.
Time to install the shorter front GTR shocks and also the body posts.
Here are the dual bellcranks and servo saver for the steering 
system.  All of these parts are common across all the Slash 4x4 
versions.  The steering system is installed cantilevered from the 
bottom plate as shown on the right (no top support).  This is done 
to keep the front assembly modular.  The tops of the cap screws on 
the steering posts will later nest into pockets on the chassis which 
provides a bit of support.
Now the front suspension and drive assembly is completed.  The 
front sway bar does not get installed until after the suspension is joined with the chassis, ruining the modularity a bit.
Now we can start on the center chassis module.  Here you can see 
the upgraded metal gear steering servo installed in the chassis.  
You can also see the round slots for the tops of the steering posts that
 I mentioned earlier.  On the right, you can see that I've 
installed the battery tray.  This has a reversible top clip to 
allow a snug fit for batteries of different thicknesses.  Different
 lengths are accommodated with foam blocks.  That honeycomb pattern
 you see all over the bottom of the chassis is there to stiffen it 
without adding too much weight.
 
     
Here is the 3500kV Velineon brushless motor (sensorless).  That 
small wire you see wrapped around the can is a temperature sensor. 
 The temp does not show up on the transmitter, but if you have a phone 
or tablet connected through Bluetooth, you can see the temperature on a 
dashboard.  On the right you can see the two pinions which came 
with the model.  The smaller 13T pinion is used on the stock 
build.  The larger 19T pinion is for high speed running on smooth 
surfaces only.  Theoretically the larger pinion should give you a 
~50% faster truck, but in reality the motor runs out of power before 
that, so I found that it is really not that much faster with the high 
speed pinion.  It does get a lot hotter though.  For both of 
those reasons, I decided to stick with the smaller pinion for my model.
 
     
This bulkhead has something tricky going on.  See the little black 
rectangle just to the left of the shiny screw?  That's a magnetic 
sensor.  The aforementioned screw is aluminum so that it will not 
interfere with the sensor.  This sensor will count the frequency 
with which the magnet on the slipper clutch passes it, thereby counting 
rpm.  Not motor rpm, and not wheel rpm either.  This angular 
velocity is different from either of those because of gearing, so to 
find either motor rpm or vehicle speed a bit of math is required.  
This math is done inside the app for you so that the dashboard reads out
 vehicle speed in miles per hour (or metric units if you prefer).  
On the right you can see the bulkhead integrated with the metal motor 
mount.  This motor mount is a different part number than that used 
on the other models, but it is not actually an upgrade.  It is just
 shaped slightly differently to accommodate the telemetry bulkhead.
 
     
Here I've installed the Velineon VSL-3s speed controller.  The 
extra JST connector can be used to power an optional fan or 
lights.  It is unused on this model.  On the right I've also 
installed the motor assembly and closed up the radio box which completes
 the installation of the electronics.  I do appreciate the thought 
that Traxxas puts into ways to clip and stow the wiring to keep it 
neat.  You can actually connect power and try out the model at this
 point, but the motor and steering servo aren't connected to anything.
Most RC slipper clutches tend to use friction discs and metal plates, 
but this one uses 3 brake pads as shown on the left.  This makes 
for a very sturdy clutch.  That little red spot on the plastic part
 to the far left is a magnet.  That's what will signal rpm to the 
sensor in the bulkhead.  On the right you can see the completed 
slipper assembly which is integrated with the spur gear.
That's everything!  The picture on the left shows an exploded view 
of the modules.  There is a front suspension and steering assembly,
 a central chassis and electronic assembly, a rear suspension assembly, 
and the drive shaft and slipper clutch which pass between them.  
The completed chassis is shown on the right.  Should be built back 
to the standard at which it came out of the box.  The tires you see
 in the background are identical to those supplied on every other Slash 
4x4.