I agree with Christina - this is one of the best episodes of the series. Lois, having the powers and facing the awesome responsibility - how can you go wrong with a premise like that?
Plus, I like how they dress her in the suit/vest/tie, so that she can pull on her tie as she's running off to be UW. A little in-joke there.
Bobbart tells a tale of another way that Lois might have gotten Clark's powers in
Luck And Consequences . He brings up some interesting food for thought - I don't want to spoil the fic, so go and read it. Adding icing to the cake is the sequel,
The Return of Ultra Woman . Fine fics, well told.
Nan Smith shows us what happens in the alt-world, when alt-Lois gets alt-Clark's powers in
How I Spent My Christmas Vacation - One Year Later . This is part of a
series that deals with the adventures of the alt-Clark and alt-Lois, and the series begins, logically, with
How I Spent My Christmas Vacation . Don't miss.
It's always fun reading Plot Untwist Challenge Fics, and Anne Spear doesn't disappoint with the snappy
Ultra Squirrel . It's laugh-out-loud funny.
Anti-Kryptonite has a change in tone in her excellent
Lighter Than Air, Better Than Gravity , where Lois and Clark come to a new understanding of their relationship after the events of "Ultra Woman".
Another reflective fic is
Forever by Cindy Leuch.
I think my favorite episode-related fic is Sue S's
Flying Lessons , where Sue asks the question, what if the superpower swap had occurred in the second season, before Lois knew that Clark was Superman?