Problem fixed -- New build. Acquisition will prompt to download when ran.
Hey guys -- seems this was a very real problem (as evidenced by all you's in this thread). Dave's put up a new build (207), and it resolved the issue for me.
Strange that this was happening though, it'd be interesting to have Dave explain to us mere mortals what happened. My Acquisition was behaving/connecting completely normal. Funny thing is, I was over at a friend's the other day who was complaining that his had completely failed to connect for a long time. I did very basic troubleshooting for him -- appzapping it and downloading it again, etc. -- to no avail. Ended up thinking something was wonky with his router, which was known to give him problems.
Then I set about clean installing my computer just yesterday. And voila, after a fresh install of OS X, instantly updated to 10.5.2, the issue bit me. I almost didn't believe it. After googling about it and reading this thread and a few other bits, I almost was convinced it had something to do with downloading and opening Acquisition for the first time on top of 10.5.2, and that it would work if opened for the first time on top of 10.5.0. So I went about clean installing for the third time in one day, downloaded Acquisition right off the bat after a clean install, and came out completely puzzled. Was very happy to see a prompt for a new version when I just opened up Acquisition. Did the update fix it for all of you guys?