ACE is a great system, when it works. If you search the subject, you will find many opinions.
There are many that simply fix any leaks at great expense. Usually is not cheap and frequently the system leaks again. Parts are not cheap and bleeding the hydraulic system is a must.
Others (me included) get rid of the system. Some people replace the system with the original equipment that came in non-ACE Discos, replace the serpentine belt with a non-ACE belt and unplug the ACE ECU.
I did mine last week and drove about a 100 miles up to the mountains without any problems. I still have the ACE system installed (which is dead weight right now) and replaced the suspension with Terra Firma shocks and springs.
If you want to fix yours, the first thing you need to do is find the leak(s). Pressure wash the whole area clean and you will see the drops of oil. Then determine what hoses, lines, etc. need to be replaced. Get ready for a sticker shock, but if money is not an issue, fix it.