I think most of us already have pegged Ace Williams as a "throw crap against the wall and see what sticks" type of rumor-mongerer, but nonetheless his rumors sometimes boil over to the MGoBoard and some people still praise him on twitter.
Fueled by his misrepresentation of the Kellen Jones story, his "reporting" of 24/7's work towards getting Michigan an actual 24/7 site which in turn halted the discussion, and his incorrect and unsourced rumors, it seems like someone ("ScoutExile") did some investigative reporting of his own, and found that -- in his own words -- "Ace Williams is a fraud." (i.e. there is NO Ace Williams -- he is just a ghost of another ex-blogger.)
The write-up at Midnight Maize is pretty thorough (and it's hilarious that he copied his twitter picture out of a hair-styling magazine).