"Ace has been pretty hot in the Crucible." It has less than 2% of all kinetic weapon kills on console. Meanwhile, it has 40% of all kinetic weapon kills on PC. I would hardly call such a huge discrepancy like that "hot." I seriously don't get how this nerf addresses this issue at all. I say reduce bloom and console recoil while only slightly nerfing Memento Mori crit damage to prevent two-taps. Let the perk stay active while stowed. Test that out. If it doesn't work, then adjust it.
The fact that the perk stays active while stowed gives it amazing synergy with recluse so I can see why they would nerf that