When I createanACE file for my ML501 board there is noise on the UART terminal. There is no noise if I do not use the ACE file.
Solution
There is extra code in the "genace.tcl" filethat is causing this issue. You can download an updated "genace.tcl" filefrom the following link and replace the other file found at C:\Xilinx\12.1\ISE_DS\EDK\data\xmd: http://www.xilinx.com/txpatches/pub/applications/misc/ml501_genace.zip