I do not have a Mac, but on Ubuntu, the manual page is shown through the less program.
To search in a manual page, press / followed by the search term (ulimit). In a bash shell, you can run help ulimit to get help on ulimit.
I do not know why your grep does not filter ulimit out. ulimit is bold-faced in the manual page, perhaps that has something to do with it. Certain escape sequences are hidden, but do have an effect: it changes (background) color or changes the appearance (underlined, bold-faced).
From my bash (version 4.2.8):
ulimit: ulimit [-SHacdefilmnpqrstuvx] [limit]
Modify shell resource limits.
Provides control over the resources available to the shell and processes
it creates, on systems that allow such control.
Options:
-S use the `soft' resource limit
-H use the `hard' resource limit
-a all current limits are reported
-b the socket buffer size
-c the maximum size of core files created
-d the maximum size of a process's data segment
-e the maximum scheduling priority (`nice')
-f the maximum size of files written by the shell and its children
-i the maximum number of pending signals
-l the maximum size a process may lock into memory
-m the maximum resident set size
-n the maximum number of open file descriptors
-p the pipe buffer size
-q the maximum number of bytes in POSIX message queues
-r the maximum real-time scheduling priority
-s the maximum stack size
-t the maximum amount of cpu time in seconds
-u the maximum number of user processes
-v the size of virtual memory
-x the maximum number of file locks
If LIMIT is given, it is the new value of the specified resource; the
special LIMIT values `soft', `hard', and `unlimited' stand for the
current soft limit, the current hard limit, and no limit, respectively.
Otherwise, the current value of the specified resource is printed. If
no option is given, then -f is assumed.
Values are in 1024-byte increments, except for -t, which is in seconds,
-p, which is in increments of 512 bytes, and -u, which is an unscaled
number of processes.
Exit Status:
Returns success unless an invalid option is supplied or an error occurs.
man ... | catworks. – grawity Jun 28 '11 at 20:58