Red, De Wolfe is deceased in the 616 universe:
She appeared in the late 1970's Peter Parker: The Spectaculur Spider-Man (which later became just 'The Spectaculur Spider-Man') and continued to appear in the early 1980's. She was one of my Marvel's first female cops, and one of the few cops in the Marvel U that actually thought Spider-Man was a hero at this time (he was still widely considered as the murderer of Norman Osbourne and George Stacey for a few years by now in real life time--not comic book time).
De Wolfe became a fan favorite during this era mainly in the PP:TSS letters page (which is obvious when reading the originals) and they began to play her up more.
Enter an aspiring writer named Peter David, fresh out of the marketing department (or something like that). David came in and wrote what is one of his best stories ever, and which ultimately made his career, 'The Death of Jean De Wolfe'. This is a fine piece of storytelling, but it of course ultimately ends with Jeane De Wolfe being killed. David, believing the death of someone the fans actually cared about would have a far greater impact, was right in that it was a pretty controversial story for its day. Jean De Wolfe has never been seen since of course, after an enjoyable few years as a regular Spidey supporting character.
In U:SM, I like that she's there b/c I like seeing her in any version, despite that its very far from what she once was. It took me a LONG time to get used to the Ultimate MU, with Gwen, De Wolfe, Giant-Man, *cringe* Cap, and others, but I'm used to De Wolfe here.
I like the Black Cat in U:SM too right now, and her reaction to learning Spidey was Peter was so true to her original character.
I really don't like Electra at all in print after Frank Miller's finale for her, even here in the Marvel U.
Haven't read the Morbius story yet.