I recently got a Toshiba R830. It's an i7-2620M, 13", at a little over 3 lbs with the 6 cell battery (although it has a ODD, which I could do without), but 'thicker' than a MacBook Air - and presumably, than an ultrabook.
I do look at it as a compromise, as I would rather have a 13" MacBook Air for a couple of reasons (namely the battery - this Toshiba, with this battery, does a little more than 6 hours in light office use, and the 9 cell battery adds around another lb - and the backlit keyboard), but this Toshiba cost (equivalent to) ~~650 USD plus taxes, and it's thin and light enough for me.
Right now some of us still have to compromise, yes, but look at what happened when the netbooks came to be... It will take a couple of years, but we'll get good 'ultrabooks' under 1000k soon.