The GTF Ulysses is one of the oldest fighters the GTVA is using after the Reconstruction Period. Originally designed by both Vasudan and Terran contractors during the The Great War, the first deployment of the GTF Ulysses-class involved the capture of a Shivan Dragon class fighter. The mission succeeded. After this mission, the production of the GTF Ulysses-class was begun. The Ulysses appeared to be a true interceptor fighter. The speed and the maneuveribility of this fighter can make it a dangerous opponent in dogfights despite of its relatively low firepower. Pilots nicknamed the Ulysses as the bat after its shape. Since there are more advanced GTVA fighters, like the GTF Loki or the GTF Perseus, the GTVA seems to have decreased the number of deployments of the Ulysses-class. The Ulysses carries four primary and a single secondary bank. The secondary bank is capable of carrying 16 Harpoon missiles, and it is also compatible with the GTM Trebuchet and the older GTM Phoenix V missiles. Some pilots find the Ulysses too maneuverable, and because of its high turn rate, the Ulysses is unable to do smooth movements, decreasing the chances of a pilot to hit a smaller target. Since this class of fighter is small in size, it is relatively hard to hit. The Ulysses seems to be the best choice for use against the more dangerous and much smaller SF Dragon.
The Ulysses is my personal favorite fighter and in the hands of one who can appreciate the high maneuverability, it more than makes up for the low missile capacity.
I'll second the comments about its handling. It turns extremely well, moves pretty quick, and it's tough to hit. An adept pilot can become well schooled in ways to avoid presenting the ship's broad top silhouette, forcing chasers to try for hits on the narrow side and rear profiles. The small secondary bank limits the realistic ability of this craft to wade through a wing or two of enemy ships quickly, but as a dueling and harassing fighter it's near the top of its class.
I always wanted to love the Ulysses, but in the end it was never quite up to my standards of durablity. Fun to fly and ideal for a 1v1 turning fight, but it can't induce the same kind of show-stopping, Shivan-leveling pyrotechnics that a Hercules or even an Apollo can. Keep that in mind before trying to wade through a wing of enemy fighters on your own in a Ulysses. It makes a superb dogfighter, however, and is servicible for any mission where enemy fighters will be your primary targets; bomber escort and protection of friendly craft against which a bomber wing would be overkill are ideal posistions for the Ulysses. True interceptor duties are problematic due to a small ordinance load.
The Ulysses is a neat little fighter to fly, and excellent for defensive maneuvers, but really is limited to interception or covering less maneuverable but more powerful fighters while they get the real job done.
Prolonged missions showed up this fighters primary weakness its poor amour rating, enter a couple of cap ships in the mission and you might as well hit alt+J, on purely fighter missions this thing is bested only by that damn Dragon as you can out position any fighter and hit aft.
The best thing to note about the Ulysses is that it is virtually the only fighter you have access to that can actually match the maneuverability of a SF Dragon interceptor. However secondaries are small, and it isn't compatible with the most powerful of dogfighting cannon, the GTW UD-8 Kayser. It also maneuvers a bit too well, because people unfamiliar with its handling may find themselves overshooting. While many people disdain the GVF Serapis but praise this for its combat qualities both are actually fairly similar (in fact much more similar than the Ulysses is to the GVF Thoth).
The Ulysses has 180 more shield points (almost twice as much) than the Serapis, although a slightly weaker hull. The Serapis also has nearly twice the secondary capacity, while otherwise weapons compatibility is pretty equal, with both fighters supporting Maxim and neither supporting the Trebuchet or heavy weapons. A comparison between the Ulysses and the light fighters of other races is what you'd expect. Like all Terran ships the Ulysses has stronger shields than its Vasudan counterpart while being a bit slower.
If the Ulysses really was designed by Terran and Vasudan engineers completely during the Great War, then that means the GTA/PVN managed to design and field a new fighter craft in less than a month. Compare this with the 10 year+ design periods of RL fighters. Even World War II era fighters took at least a year between initial contract and fielding.