Space Ace was the followup laser disc game to "Dragon's Lair". It was never as successful although many thought it was a better game overall.
This version is based on the graphics created for the Amiga computer (the most powerful computer at the time graphically) and they were "dithered" down to black and white for the Macintosh.
The result is not as bad as you might think. A Mac PLUS or SE with 1MB of RAM is the best and it will install onto a hard drive.
This game has been very difficult to find on the internet, so we have an actually full download (12.3 MB) available here including everything you need.
Check out Old Mac Archive for more Mac software.