I guess I had better redo my stats, ... I have five Ace Race aces which I never even thought of counting! I do count the one Ace I got while playing against another player. I also have never counted any practice shots which happen to have been aces, ...I take those as part of my warm up.
It definitely doesn't count if someone takes 30 discs out to the shortest hole on the course and throws until they get one. Or play day and night on only the shortest holes ever (cough cough Cubby cough). I think an Ace Race event is more similar to a "Fairway Ace" then a real one.
How about this, (to further complicate the question): In a sanctioned tournament, a player throws OB from the tee, say for example over water, and must take a re-tee. Now throwing shot number 3, from the tee, he bangs the chains. Is it still an ace? It certainly wouldn't be on the scorecard. Como Park hole 14 in Buffalo NY is a great example if anyones been there.