Voyager006 says:
The Ultra shadow calculation will be
1. Projected to a local cache file
2. Additionally, it will be compressed and saved to the map file
(the compressed shadows are based on the Ultra shadow calculation)
It will therefore differ from Standard shadow calculation which is only compressed to map file, I think
This is exactly correct (according to what I've read from the developers anyway).
For example, on District 25, an Ultra lightmap yielded much better lighting all over the map than Fast or Default did. I presume this is because more light bounces were computed, thus providing more light all over the map.
So even after clearing my cache, the built-in compressed lightmap inside the gbx file still looked brighter than it would have had I not computed the original lightmap on Ultra.
The point is, compute as high as possible whenever possible. If your computer can handle it, take the extra time to do it, especially if your map has a lot of darker areas.
Additionally, changing to sunset or night mood for a map that has many dark shadow areas will switch on many of the lights on different blocks in Stadium and may increase the visibility on the map.