A lot of people I know really hate Ancient Race and some even go so far as to call it "cheating"
Personally I think it is a 1000 point trait that is worth 1000 points.
I don't usually take it anymore as I think the points are better spent elsewhere. Were it is really usefull is in a game where you can only colonize breathabe planets. Then your colony ships can make a beeline for the good planets