BobbyBlueChip made an excellent point. My math is predicated on being able to: (1) Re-split, and (2) Continue to take more cards after the split on both hands. Most casinos no longer allow this, although there are still a few that do -- according to one of the Blackjack newsletters I've seen.
In reply to Jack's notion NOT to split the Aces against a dealer's 10, let's break this down step-by-step.
1. You split the aces.
2. You receive ONE card only on top of each Ace. Each hand will now have a bet of X amount.
3. Theorhetically (given a neutral point count) you have a slight advantage when you draw one card against a dealer's 10 upcard. Here's why: Each of you has one card to turn up. Your must STAND no matter what the card -- which puts you at a disadvantage, it would seem at first glance. This is because the dealer will draw until he reaches 17, or busts. So, he has the ability to take additional cards, while you do not. However, that disadvantage is overcome by the fact that when you catch strong card -- 8, 9, or 10 (constituting 24 cards remaining out of 49 -- or about one-half the cards left in the deck), the dealer MUST STAND on 17 or any lower count that loses to your hand (so far, this means you are both at EVEN odds head-up getting one card). But what happens when you both catch a brick? If you both catch a brick....to your Ace and to his 10 -- let's say you both catch a four, you have to stay on 15 with no cards to come, while the dealer has to continue to draw until he reaches 17+. So, the dealer might catch a 5 or 6 (which it seems is a better card, but it's not really since he must continue to draw -- even though it seems you are "beat"). The times you catch a brick lower than his card is actually an advantage to you, since you may catch a 13, while if the dealer catches a 2, 3, 4, 5, he MUST keep drawing until he has 17+.
Finally, I'll cite two sources which state spitting Aces is ALWAYS recommended (except with certain point count counts.). The first count I learned was the Revere Count by Lawrence Revere, who wrote the book "Playing Blackjack as a Business." I am not sure Revere has the best system, but his charts are irrefuatable (see page 60). A secondary source is the excellent book written by a good freind of mine, CUNY Professor Arthur Reber. "The New Gambler's Bible" has a lengthy section on blackjack. See page 130 which clearly states splitting Aces is always recommended versus any dealer's upcard, including a 10.
-- Nolan Dalla