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Material(rupa) is ultimate reality in Buddhism. The mind(citta) is an ultimate reality too. Cittas come one by one very fast and each lasts for an extremely short period of time. The more we are mindful, the more we can see these cittas. If we aren't mindful, like most people(unfortunately), we can't see the individual cittas that make up our stream of consciousness or our mind stream very well because they blur together.
It's not that "Conceptual Reality" is wrong, The entire Tipitaka is conceptual. Among the many purposes of the Buddha's teaching, is making us understand the difference between "Ultimate Reality" and "Conceptual Reality" because we usually just blur the two realities together.
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Yes without going to the extremes existence and non-existence or eternalism and nihilism Buddha taught the middle path which is Dependent Origination.
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Buddhism points out that both are concepts, reality is free of concepts (unless we impose them).
In my experience concepts like idealism etc. are deeply ingrained, unlike "my nose is itchy", so it's useful to remember they're just in my head.