Without the ending to Secret Wars out yet we're left with some big questions after reading Ultimates 1.
Black Panther is once again the monarch of his nation. Wakanda and the US are working together at the Triskelion which also houses the new Wakandan Embassy to the US. They share intelligence, but not military secrets according to T'Challa. T'Challa tells the UN Sec-General that the Ultimates are there to deal with the largest problems, starting with Galactus.
Spectrum and Miss America are off fighting something they were sent to retrieve, Spectrum comments on Chavez's incredible power.
Blue Marvel and Captain Marvel go to meet Galactus. Galactus thinks they want to fight and destroy him as many others have but Blue Marvel tells them they're actually there to solve his problems.