[EnderFFX]

1) No there is actually a time when not calling with Aces is correct. (but it is extremely rare) Lets say there are 4 people left.

Player A has 2599 chips.
Player B has 2599 chips.
Player C has 2599 chips.
You have 203 chips and are in the BB

The blinds are 100-200

Player A, B, and C all push in before you. You look down and see AA. What is your best move? You have 3 chips left and are getting absolutely amazing odds to call. However, if you get beaten by any of the three players you will come in 4th and not place. If you call and win you will have 800 chips compared to the next guy who will have 7200

If you don't enter the hand odds are one player is going to eliminate the other two and leave you 2nd in chips (7,997 to 3)

2) Another example of when it may be correct to fold AA is just the opposite situation. You have 5000 in chips, player B has 1350 in chips, player C has 1350 in chips, player D has 300 in chips. The blinds are again 100/200. You are in the Big blind the small stack is in the little blind. B and C fold, and player D raises all in. You look down and see AA.

Folding leaves the small stack alive, and gives you the opportunity to steal from B & C. Odds are B & C are going to try and hang around to get into the money. The small stack may take some chances to get his chips into a fighting position. You can take advantage of B & C's defensive posture, by keeping the small stack alive and raise B & C constantly. Eventually you will get all three stacks down to small even stacks, and it will be a matter of time before you take them out.