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Adcom ACE-515: What does it do?

Sorry I just got one

is the 515 also a power conditioner ?
Why there is a ground connector when it has a 3 leg plug ?
 
Why there is a ground connector when it has a 3 leg plug ?
To allow connection of the system to the 515 ground if the system only has two wire plugs. OM cautions to only use one component to 515GND terminal as the rest would be connected through the signal grounds.
 
Take the pre-amp's power cord and plug it into the wall outlet. Then take the ACE's skinny cord and plug it into a switched outlet on the pre-amp. Turn all switches to "on" except the pre-amp. Now when you turn the pre-amp on, the ACE will detect voltage in its skinny cord, come alive, and turn on all the other accessories. 10 seconds later it will turn the amplifier on. When shutting down, flip the pre-amp switch to off and the voltage to the ACE's skinny cord drops and tells the ACE to go to "off" mode. As mentioned before, this turns the amps off immediately and the accessories 30 seconds later. Alternatively you could plug the ACE's skinny cord into a switched wall outlet or switched power strip and that would be the way to tell it to power up and down (like, if you had all the other equipment on a high or low shelf, behind a screen, or other inconvenient place).
My Panamax Max 1000 surge/spike protector/sequencer has been doing this same power up/down procedure since my 1992 purchase using the "skinny" power cord plugged into one of my 1986 purchased remote controlled C-31V Mc. preamp`s switched outlets, and that bad boy has survived countless nearby lightning strikes, and manmade surge/spike rich power blip events unfazed since, as well as all the audio equipment it switches on and off.
 
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