"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.
						
					
					
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	The fact that the perk stays active while stowed gives it amazing synergy with recluse so I can see why they would nerf that