Hmm, I was flying on the map that has a big circle land mass and mountains everywhere requiring you to fly up high to get to the next base.
Anyway, I noticed when I looked over to the horizon, the ground textures looked very computerized, like a jpeg or something. I then turned on AF to 16x and then alt tab'd back into the game, looked over to the same area and it looked better, no jpeg-like look to it.
Skuzzy is right that it only affects textures at oblique angles. I find it does help Aces High in that 1 specific moment. That moment is when you are at 10k or higher and are looking out in the distance and when you see the ground, it helps make the texture continue to look good as it gets further out from you. Other than that, I don't see AF improving the look to other textures. If AF were to make my framerates drop below 60, I would back it off a notch until it had no drastic affect on my framerates as it would not be worth it to me.
AF does improve Aces High.
I have 7950GT OC w/ 93.71 drivers