I have a 3-9X33 ultralight. It is not currently on a rifle, but rather waiting for my next LW rig.
It is tiny. The optics are pretty good, IMO. I do think the VX3i is a little better, but not worlds apart. The VX-3 (non-i) and the VX-2 UL are really close optically.
As we have discussed before, I don't care for the variable eye relief much on any of the Leupolds (the VX-6 seems pretty constant), but the VX-2 UL is really impressive for such a tiny, LW scope.
Mine has the LR duplex, which is a simple BDC for moderate ranges similar to Vortex' Dead Hold BDC. The LR Duplex version is parallax corrected at 150 yards vs. 100 yards for the standard Duplex.
Hard to beat that scope when you are really looking to go light.