Ultra HD -- Don't know if this will happen. We may have reached the pinnacle of consumer video with HD and BluRay. That's not to say that improvements can't be made. For example, There will probably never be a mass market audio format better than the ancient CD, even though niche formats exist.
I saw a couple things at NAB that highlight that the biggest difficiency in current formats (home AND theater) is dynamic range and gamut, not resolution.
Seiki 4K UltraHD 50 inch TV for $1500. Who the hell is Seiki and how can it be so cheap? Although, to be fair, we bought a 50 inch Samsung (regular HD, no 3D, no internet connectivity) on a Cyber Monday sale for $799, so maybe it's possible?
There's no standard interface yet (will be an evolution of HDMI). There's a content problem, which Sony has a solution for (with their TVs). To make sense for a 50" UHD TV, you need to sit on a stool in front of the TV, or set it up like a computer display at arm's length.