it's not needed, in the archive from rinaldo, the output folder already has a records.ini, which should be deleted, as well as arc archive. From the UltraARC topic here >
http://www.fileforums.com/showthread.php?t=96619
grab the UltraARC 2801 R3 Hotfix.7z & extract it into the output folder.
Make necessary image changes, compile the script, then run ultraarc setting source / output directories. Don't forget that FirstVolumeSize=
4480 is everything in the first folder ( if you have redists to install + setup.exe + setup.ico, those will be subtracted from 4480 to get firstvolumesize. More info is in the first post of topic I mentioned above.
doing all that the progressbar should progress as installation proceeds.