Requirements do change, and information given on a generic website (which may not be operated by the company in question) may be incorrect or out of date, but don't waste everyone's time by replying to a specific job advert which lays down minimum requirements if you can't meet them! You will piss people off, and you may end up having your name added to the timewasters' black list!
If my company asks for people with 3000 hours, it's because we judge that that's the minimum experience we can live with AND that there are plenty of prospective employees out there with those hours. If we had misjudged the market, and didn't get the response we wanted (extremely unlikely, just now!), we would readvertise in different places. In the almost inconcievable situation that there were still insufficient takers, we may then revise our criteria. At that point, we may contact those held on our books who we believe to be close to our minimum criteria. These people may have sent us speculative CV's in the past knowing that they were approaching our requirements, but without reference to a specific advertisement. Those with little experience who had pebbledashed our offices with scattergunned CV's would not be invited!
The point is, be selective and sensible who you send your CV to. If you have 200 hours and an fATPL, don't waste your and the companies' time by contacting Virgin, or BA or whoever. As for the content of the CV, there has been much discussion and good advice here in the past. Do a search - you will discover lots!
Scroggs