TX to all, once the notebook arrives, I plan on doing the Ultimate upgrade and then updating the new machine to SP1.
After that, I'll spend the next 97 years removing the "stuff" that comes preloaded on the unit.
I would back it up to be able to rebuild it exactly as it was delivered to me. Then I'd remove the preloaded apps that I don't want and then I would perform the upgrade to Ultimate. If you have to create a set of restoration CDs or DVD, you should do it first.