The Paso Fino gait is a 4-beat lateral gait... essentially a "broken pace"...The gait is perfect four beat, with the footfall being left hind, left front, right hind right front. The cadence of the 1,2,3,4, beat is rhythmic with equal time intervals between hoof beat. There is very little up and down movement in either the croup or the shoulder of the horse. The gait is performed at three speeds with the collection decreasing as speed increases. Paso Fino means "Fine Step"...
A "True Pace" is a 2-beat gait with the right front and right hind striking the ground at the same time, then the left front and left hind. If you want to see an honest to gosh true pace, watch a camel run. It's AWFUL!
I rode a pacer once, a standardbred off the track that the seller said used to belong to Michael Landon. Not sure if that was true, but the pace was really weird to ride. sitting, you felt you were moving side to side more than forward.