I think I may have found a solution. I will update again in a few days if this remains stable. I have blacklists acer-wmi. The default acpi driver seems to work fine without putting up error messages on loading and without the problems (so far) with flooding the log files. I have successfully hibernated and restarted without issues.
I suspect this "bottom of the line" laptop is a real bare-bones basic device without any "wonderful" acer stuff.
