The herald is going to be a Captain Universe of some form.
Plus, while I kinda like the Watcher's politeness and compassion (it's well-handled), the series is kinda pulling in two directions.
One one hand; it's trying to set up Ultimatum, and in that sense, it talks about the big bad to come, and all that jazz. On the other, it's trying to be an epic overview of the ultimate universe.
The problem is that the former direction (Ultimatum) is trying to set something up while the latter (Origins) is trying to resolve lots of story lines.
They're antithetical. The series continually shifts from "resolving something" to "setting something up". And as such, doesn't do either particularly well.
What's more, the former direction is pointless because that's what marketing should be about and it's one of the reasons the comics industry is so ****ing insular: nothing can be read in a vacuum. You can't just enjoy "Ultimate Origins" on its own for what it's worth because it's so interwoven with everything else. Using a mini-series to set up another mini-series is just pointless. Just put out the mini-series instead of 'set ups'.
The latter direction also, isn't an epic overview of the Ultimate universe nor an insightful explanation of who did what and how things came about, but rather, a series of "secret origin" issues that are only connected to one another because Nick Fury knows about them.
Ultimate Origins is five one-shots linked together through an Ultimatum advert.
I really think a better way to do Ultimate Origins would've been Wolverine. On his own. From all the way, back in the day. Wolverine's origin. Wolverine is a character who can easily have travelled the globe and a character that could've met anyone and done anything. What's more, Wolverine can know anything in the course of the mini and then have his memory wiped so it doesn't contradict established continuity. In fact, here you have a rather tragic tale about an immortal man who's seen the formation of the world, understands what it needs to survive, and yet all the majesty and insight is robbed from him and he becomes a drifter. Why not? That could work.