I liked Equilibrium since it was a decent cheesy action movie which didn't depend on Matrix style slow-mo for the gunfights. Just as long as you ignored the storyline, which was probably written by a 4 year old as a boredom reliever while he was getting over his concussion in hospital.
However, like 3nvy, I can't say I've heard anything but bad things about Ultraviolet. From the trailer alone, it looks as if they decided to go with the Matrix slowmo effects after all, much to my dissapointment.