Auriok Salvagers, Karn, Batterskull, Triskelion... both Tezzerets who animate artifacts into 5/5s.
Against critters with Lifelink such as Griselbrand and Wurmcoil Engine, -5/-5 can also be much more relevant.
Ghastly Demise suffers the same problems. It's a good card but in Vintage, it mainly falls down to playing around Misstep and Chalice.

I think Vendetta is a better comparison than Ghastly Demise personally.
Ulcerate is an interesting card. I think it's better in a format like Legacy where people are playing Disfigure, though I don't think -3/-3 rather than -2/-2 is worth the 3 life. Dismember seems better in almost every way than Ulcerate when you think about 3 life for -3/-3 or 4 life (at most) for -5/-5. In Vintage I think Ulcerate will see very little play if any because of Dismember and the relevance of the extra -2/-2 that -5/-5 provides. Ulcerate only costing life when it resolves adds a wrinkle to the equation, but is not relevant enough to tip the scales. I have seen very few decks playing 4 Dismember and I don't think those decks are really looking for numbers 5-8 currently.