Just FYI, as it is pertinent. The current crop of ATI cards and drivers work fine with Aces High II. There are no driver issues at this time, with the 48xx series and the current driver.
However, I would not install the ATI Catalyst Control Center, nor the ATI sound card driver. Just install the basic driver, then grab Ray Adams ATI Tools and use it for anything advanced.
By the way, the 4850 Toxic from Sapphire, runs pretty cool and very quiet. It is also overclocked from the ATI standard reference card.