This is not a theoried response.
Of course I have tried this. This is a common setup dating even back to the Alpha series, mabey even before that.
The way the system works as you know, more hits = less damage the higher you go. So you are right there isnt much to discuss here. If you have someone dizzy and you do cr.MK - > ultra or even cr.lk -> ultra, you will do max damage with your ultra because you have reset the combo.
I belive cr.MK is the most damaging attack that you can smoothly go into ultra from on hit.
The ultra is not doing any more damage than it already does.
I just would rather use an ultra with more chance of it being guaranteed than hope they dont react because then you deal no damage because you were trying to get an extra 30-50.
This is diferent than the standing 720 issue because even with the standing 720 you are still going to get a command grab even if you mess it up.
I understand we are all learning here and everyone is on different levels but people are just trying to let you know this might not be something worth learning.
But whatev. Any time spent in training mode is time well spent.