I have both the Ultra and Elite fivers, I like the Elite a little better mainly because the neck profile is slightly more comfortable for my hands. I also like the convenience of the truss wheel, the string-thru feature, and that it didn't come with tort. However, I like the Ultra little better because the stock preamp seems like less of a mess and the screw-free battery compartment (jury is still out on long-term durability on this plastic piece, though). I have an Elite Jazz 4 that has a 4-tone Audere preamp into it, and it's fantastic. I'm planning to drop one into the Elite V to see if I get the same result.
I haven't had any battery problems with any of these basses. Also, I'm not sure it's possible to make 100% noise-proof single-coil pickups... it's just that Fender took some steps, perhaps not perfectly implemented, to significantly reduce noise potential. I get some noise every once in awhile, but nothing to get twisted up about. I think I remember reading about how some owners have added shielding to their cavities/pickguards and improved their ground connections and this reduced noise even more.