Unless you're supporting a lot of servents in Leaf-mode, then you're not really using Ultrapeer -- you're just continuing to use the "full peer" mode of the original Gnutella protocol.

It also appears that the reported horizon size is different depending on whether you're in Leaf or Ultrapeer mode. Leafs are only told the number of "regular" hosts (Gnutella 0.4 servents) their Ultrapeer is linked to, rather than the larger Horizon number. But once you become an Ultrapeer, you can see the horizon size of other Gnutella 0.4 hosts and of other Ultrapeers.
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Your screen-capture clearly shows your connections:
- 4 hosts acting as regular Gnutella 0.4 servents
- 2 hosts acting as Ultrapeers
- 3 hosts acting as Leafs (clients to your Ultrapeer)

So, all you've managed to do is remove the excess traffic of 3 people.

By comparison, I can't even do a screen-shot of my Connections page because it's so long. To summarize mine:
- 6 hosts acting as regular Gnutella 0.4 servents
- 0 hosts acting as Ultrapeers (they come and go)
- 50 hosts acting as Leafs