Joe, I don't think I'm qualified to answer your question because fueling for an event as long as an adventure race may be different that fueling for a three or four hour bike ride.
Yes, I still use the stuff. I like the Accelerade because the protein in it really does seem to help my recovery and leave my muscles feeling less sluggish post-ride. But this may be my perception only - either way it works. Some people can't take in a drink with protein because they don't digest it well during a strenuous physical activity. I don't have this problem, so I take it.
In riding, you are supposed to be taking in some carbs after 45 mins, and then be eating (ideally every 15-30 mins) after an hour. If I am on a ride longer than 3 hours, I'll pack a Powerbar or two, as well as the Clif Shot.
Like I said, I don't know about adventure racing, because you are throwing sleep deprivation in the mix and I don't know how that interacts with blood sugar levels. I imagine the old 'trail mix' (or some called it gorp) worked for a reason - mix of simple and complex carbs (chocolate, raisins, and bananas) along with protein and fats (nuts) gave you everything you needed. Many of today's grain based bars are pretty much just expensive versions of gorp.
Give the Accelerade a try. I love it. The Lemon-Lime tastes much better than the Fruit Punch or the Orange (which one of my female friends described as tasting like....uhh....ummmm... seminal fluid.

Scarily, I had no problem with the taste until then.)