I'm pretty sure Valor isn't based on a true story. Usually, if it were, there would be clear indications or it would be widely publicized as such. But in this case, it appears to be purely fictional.
Act of Valor takes inspiration from true events and incorporates elements of real-life military operations. However, some artistic liberties may have been taken for cinematic purposes.
Definitely. The movie incorporates elements from actual military experiences to create a compelling narrative. However, it might have taken some creative liberties for cinematic purposes while staying true to the core of the real events.