Well when you say 'ultra', I assume you mean 'with everything maxed out'? If so, what kinds of games are we talking about here? Some games are easier to 'max out' than others. For instance, it's easier to max out CSS than it is to max out Crysis or something.
In crysis you will ahave to reduce shaders to high but everything else maxed.It looks similar to max settings.metro 2033 at high settings with tesselation DOF off.just cause 2 with shadows medium AA off rest maxed.You can play demanding games at high settings but you can play games like mafia 2,call of duty at max settings
Good cpu or not there are games out there that can make this card choke at 1280x1024 that are not well known such as Gothic 4. Don't expect this to be a the jack of all games at that ress. For that you need to aim higher.
At a reasonable resolution (1920*1080 for example), with AA and AF, not a chance. On the same note the 560 wont max things out and provide playable fps either. If we look at the witcher 2 for example, max it with ubersampling and it's just about playable on a slightly OC'd 580 (1920*1080).
Maxing games requires expensive state of the art hardware, it's not something that a upper-mid level card can do, let alone one from a previous generation. However, the question remains whether you really want to max games out in such a manner? If you're a bit more casual about graphics and computing, as it sounds you might be, there isn't too great a reason for you to have a high-end card and max everything. Just get a good value card.