For users spending $1,000-2,000/month on usage, is Ultra worth it over Pro + usage-based pricing?

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That depends if you prompt efficiently, which models you use and other factors.

Ultra Plan gets you $400 + free usage.

Here are a few tips that help reduce cost and make the plan last longer:

Understanding LLM Token Usage

Here is a detailed explanation of LLM (AI) token usage in Cursor: Tokens are used every time you interact with AI models in Cursor. For transparency, token counts are shown as processed and reported by the AI provider. You can check your usage in ‎Dashboard > Usage and, if you have Usage Based Pricing, also in ‎Dashboard > Billing. The dashboard is being improved to show all AI usage of a single request in one line, even when multiple tool calls are combined. Tokens are divided into four group…