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UltraTorque can fit a variety of frames, including threaded ones. You will need to purchase cups with either BSA ot ITA thread, depending on your frame. The bearings themselves are fitted on the cranks and the arm. When you buy second-hand UT it's quite common to find the bearings still fitted, so you just need to purchase the cups that are suitable for you.
Edit: too slow. The 5 bolts UT look good on anything. The latest iterations not so much.
I couldn't quite work out if you can't run UT on square taper BB. I wanted to go with square taper as I already have the vintage cranks, but is it better/can you fit a modern press fit BB to an old Italian threaded frame and fit UT? Lots of compatibility issues to get my head around....