Numerical simulations of quasi-static magnetoconvection with a vertical magnetic field are carried out up to a Chandrasekhar number of Q = 10 8 over a broad range of Rayleigh numbers Ra. Three magnetoconvection regimes are identified: two of the regimes are magnetically-constrained in the sense that a leading-order balance exists between the Lorentz and buoyancy forces, whereas the third regime is characterized by unbalanced dynamics that is similar to non-magnetic convection. Each regime is distinguished by flow morphology, momentum and heat equation balances, and heat transport behavior. One of the magnetically-constrained regimes is believed to represent an 'ultimate' magnetoconvection regime in the dual limit of asymptotically-large buoyancy forcing and magnetic field strength; this regime is characterized by an interconnected network of anisotropic, spatially-localized fluid columns aligned with the direction of the imposed magnetic field that remain quasi-laminar despite having large flow speeds. As for nonmagnetic convection, heat transport is controlled primarily by the thermal boundary layer. The heat transport and dynamics in the magnetically-constrained, high-Q regimes appear to be independent of the thermal Prandtl number.