Conclusion:
Ulti-Mat has left a wonderful first impression with me after using their Breathe FX-3 cloth mouse pad. It performed very well, had exceptional comfort, and friction low enough that it compared to some of the solid pads I've used! If you're looking for a great performing cloth mouse pad then the Ulti-Mat Breathe FX-3 gets my current recommendation!

Pros:
It's the best cloth mouse pad I have used when it comes to low friction between mouse and pad
Nice and thin, not bulky like some cloth pads tend to be
Large size gives you lots of room to move the mouse (although some may find this a con depending on their desk)

Cons:
Non-slip backing wasn't completely effective