Ultrasound does have a few difficulties compared to IR. First of all, it takes a lot energy to produce enough ultrasound for ranging purposes. Your battery system must be capable of supplying bursts of high current. Ultrasound production is difficult to focuse, which makes the out going cone kind of large. This means it is difficult to tell what reflected the detected ultrasound.
Ultrasound sensors are not cheap, either. They are typically more expensive than IR triangulation type sensors.