I believe this is because the game itself automatically trims for a given airspeed.
only if you have combat trim enabled
In Real Life, piloting on manual controls requires almost constant trim changes when changing airspeeds, power settings, etc. Elevator trim is by far the most adjusted of the three axis.
in real life, once the pilot got into fighting he was not as focused on being properly trimmed out, while they still would make QUICK minor adjustments, but not like they would make while they were in cruising / or patroling mode....
in Aces high, there is no Extra advantage to be gained trimming your elevators full up.....you only benefit from having to maintain the stick input ( less fatigue )....... it will infact not help you turn tighter........with that being stated, when flying against same type aircraft and while in a phonebooth/knife fight....trimming full up when slow could possibly help you over your opponent in the same plane, who might not be trimmed full up......this , in my view is the only time you would benefit from it......
also remember, if your Elevator is trimmed manually to full up, or you have Combat Trim enabled..you are fighting the Trim setting each time you try to go nose low and build speed back........ Combat Trim and Manual full up Elevator Trim can hurt you regaining speed
YMMV