I would send a cordial letter to Ace Corporate. I don't know if Ace franchises their stores or not but go to the top in your area of concern. Maybe the V.P. of Marketing, for example. Even if it is a franchised store, Ace Corporate will have ample control over them.
I would definitely copy Makita's marketing department with your letter. If they're supporting a sale with Ace that isn't happening, they will be concerned. If Ace is flat out using their name in false advertising, they will probably be a little more than concerned.
A mention in your letter to corporate that a followup letter to the local newspaper with regard to the local store's business practices will be forthcoming should they not address your concerns. Be prepared to follow up with this letter to the editor of your local newspaper. Sometimes, the concerns of an individual tend to fall through the cracks with the big corporations. If they're an aboveboard company, they will make it right with you.
Keep everything honest and factual. Bad publicity is something no one wants. Especially an Ace Hardware that is fighting for market share with the Home Depots and Lowes of the world.
Tell 'em you want a coupon to cover your fuel costs, also. Their false advertising created an unneeded expense on your part. At today's prices, depending on what you're driving, this can add up.
I've heard of "loss leaders" before but to not have the drills in the store or warehouse is poor business practice. And to not offer a "rain check" on the spot, in my opinion, shows poor local management of this store.
Go get 'em and good luck!