I use my Raven Ultra as my general mountaineering axe and sometimes as a second tool on steep snow climbs. I've had it for 1.5 years. It works very well within its intended purpose. I like the ergonomic feel of the head. I find the adze adequate for cutting ice. The shaft and head have both been very durable so far. I don't really like the spike design. I worry about its bite in ice and it tends to fill with snow. If I went back in time I would probably buy the Raven Pro or a Grivel Nepal SA instead. I do still really like my raven ultra: it is clean cut, simple, light and effective.

Although Aluminum headed axes are all the rage among Ski Mtneers, Adventure Racers, and UL Backpackers, they do have some very specific limits.
They tend to have such light heads that they can be largely ineffectual for harder snow and ice and in fact, can just bounce off---disastrous in certain self-arrest and step-cutting scenarios. One doesn't dare accidentally hit rock in mixed conditions w/ an alum. adze or pick---it can break or be easily blunted. Finally, many of the lighter alum. headed axes have very thin heads (to save on weight) and tend to be uncomfortable to hold for any length of time.
I have found that the designers of the Black Diamond Raven Ultra (and the only slightly heavier Raven Pro) have achieved a certain golden mean in creating a steel headed axe that is relatively durable, is lightweight, well balanced and efficient as a good all-around mtneering axe suitable from everything from being a "just in case" axe for the fast moving UL backpacker tackling early season pass conditions and glissading down from Trail Crest (you know who you are) to the more demanding use of the rando skier descending down some ice to get to that sweet snow filled couloir and the general mountaineer on moderate ice and snow climbs. It is a B-rated Axe. This is the lightest steel headed axe I'm aware of.
As I said, the Ultra is well balanced and a pleasure to swing. The curve and angles of the pick contribute to an aggressive bite. It is a very comfortable axe you can hold onto all day.

Extremely lightweight and easy to take with you when you are debating the necessity of a 3rd. The sharp end plunges right into packed snow for various belays that are needed. Head grabs snow well, overall a great tool.