Enhancing REU (research experience for undergraduates) has become a popular strategy for many selective universities to enhance quality of undergraduate education and recruit gifted new students. The university that the authors are affiliated has set REU as one of the major outcomes for our QEP (quality enhancement program) for next 5 years. This paper presents a model centered REU program entitled as ACE standing for Analysis, Computation and Experiment. As a work in progress, the program is planned to run for the next 5 years and to serve for 20-30 undergraduate students who are gifted in mathematics and computing annually. ACE is to use interdisciplinary research projects, the guided exploration based on sound pedagogical practice and the top niche analogical and virtual dual lab facility bring measurable impacts to over a hundred of gifted undergraduates.