is it 60 fps
Yes.
This game is seriously wonky, but its actually not bad. There's all the recognizable hallmarks of the Ace Combat series, but everything is a bit askew. The planes are quite obviously, no longer jet fighters, which lends a slower pace but the planes seem to be much more nimble (confession time, I haven't played an Ace Combat game since the PS2, long, long ago). Missiles are out, but you've got a super meter that functions pretty much in the same way.
The already-simplified flight sim aspect of Ace Combat has been further streamlined, either for the Wii audience or to fit the actually kinda functional motion control scheme (although the Classic Controller is far, far preferable). The 'normal' and 'easy' control schemes don't just simplify the controls, but also make enemy planes easier to hit then the water is while standing on a rowboat with a handful of rocks. Tuning the control option to 'expert' actually makes it play like a real, actual game instead of "My First Flight Sim-By Fisher Price".
Also, turning up the difficulty also makes it quite reasonably hectic and challenging, which doesn't appear to happen for the normal campaign until much later on.
So if you disregard the default control scheme, and not be too terribly annoyed by the very bad menu interface, and don't mind the 'pretty good by last gen standards' graphics, there's actually a pretty good game here. I know all that sounds like a whole lotta caveats, but really, this game doesn't suck*. As one of the very few actual game-games being made for the Wii, and a pretty good one at that, it deserves a look.
*Provided you don't mind the anime-ish story and you do tune your game.