The ultimate art option for flight reduces the magic energy drain once it activates, but has a massive amount more initial magic energy cost (which to me meant that flight actually lasted less for ultimate arts than regular, making the benefits of making flight the ultimate art questionable). I haven’t noticed any differences in speed, but it’s hard to tell.
The ultimate mode option for mode, I’m not sure what changes. For the resistance option, the regular and ultimate option both give the same amount of max HP. I got the same for the power option, where the damage increase was the same. These two might have been a bug for me, since it’s weird there hasn’t been any change. I couldn’t tell the difference for speed, and destruction’s hard to test. Bursting was the only difference I noticed, where the explosion aura AoE and the damage (152 regular, 183 ultimate) was notably larger for ultimate arts. For the ones I tested, I couldn’t notice any clear differences between magic energy drain. I only tested bursting for this, but there was a larger initial magic energy cost between regular and ultimate arts.
pretty sure that’s optional/make it easier to use spells and not a requirement since i dont remember limb movement being required to use spells/magic in general