Well most people thoughts of this on this site are already collected in the LockDown! thread and the Impact's last thread. I'd read through those if you want people's initial reactions.
However, my current thoughts.
It's a step in the right direction for the group at least after they revealed member after member over months and months of TV and all the names were just random, WWE rejects and folks inside TNA that can't wrestle anymore(that includes Devon). Yeah, that is how I see the entire stable even if I am a fan of Knux and D.O.C. is turnin' into a damn good big man in the ring.
It was pretty hilarious too how Bully took over the group. I remember Hulk ringside before the SWERVE and he looked like the dumbest, most helpless person I have ever seen. And Brooke looked like a pathetic fool. It accomplished what it needed to do in the end. Aces & Eights will probably now stumble around Slammiversary and end up dissolving between then and Bound For Glory so TNA can then start next year's HUGE storyline.