Jack,
I also have 2 Handi's in .223. One is the Ultra Varmit (SB2-833) which has the Laminant stock 24" bull barrel, checkered stock and ventilated recoil pad. The other one I have is is the Handi-Rifle (SB2-323) with the plain wood stock and a 22" barrel. So the difference is just the stock, an extra 2" of barrel which is nice if you reload (I figure about 50 fps for each inch of barrel) and the recoil pad (like it really matters with this caliber).
I would probably spend the money for the Ultra over the Handi for the above differences. I got lucky and when I ordered the Handi first, it was out of stock and then I ordered the Ultra instead. Wally-World still had their old 2004 price book out and I got that price instead of the newer 2005 price, so their was only less than $45 difference. I have a Handi also because a fellow Handi-Olic here had one for sale and I got it also for my son. I get to break it in for a couple years cause my son is only 3
. But he'll be shootin Prairie dogs soon enough.
Hope this helps.
mark :?