It's interesting to note that the new Ugin planeswalker was revealed by Ben Stark, arguably the best Limited player in the world. Could this mean that Wizards of the Cost simply wanted people to know that this is by far the best Limited planeswalker in the set? Probably.
The plus one ability is incredible, as it draws you a card and protects Ugin. But the minus three ability is where the real power is at.
Also, it's a colorless planeswalker that can be used in any type of deck, which makes him a highly valuable card in Limited. Don't think too much when you see it in your draft, just use him.