Oldest guy I trained alongside was 42 and now instructs. This is in the UK though. Most trainee commercial pilots tend to be very young in the US and start off their career instructing (usually in Florida) until they have enough hours to approach the airlines. They also have a degree because the majors require it. At 32 you are slightly over average age for a trainee in the UK by about one year. US? Probably considerably above average but still in the running without a doubt. Like Send Clowns said, depends where you want to go.
If you feel ready to commit then nobody can really say anything to dissuade you. I know as I've been in your shoes. What I would recount to you are a few olds pearls of wisdom:
1) The grass is always greener on the other side.
2) Better the devil you know than the devil you don't.
3) One mans heaven is another mans hell.
That just applies to the training. Alot of blood, sweat and tears which ultimately changes the individual. I am not the same person I was before I commited to commercial flight training and whether I'm a nicer person for it is rather debatable. To shell out all that money is quite a selfish act so ones mindset alters once the plunge is undertaken. It's a cut-throat business and one that is only equalled by the second hand car trade. You have to get tough to pull through and that means pissing off alot of those you consider dearest to you.
To convert FAA to JAA is quite a labourious process and you may wish to look into skipping the FAA (you need alot of hours to get hired in the US) and going straight to JAA. You have your FAA PPL so you can now start the JAA Airline Transport Pilots Licence groundschool with a UK based trainer such as Bristol Groundschool (search the web). They would send the distance learning manuals to you and you'd study at home in the US and then travel to the UK for the 2 week brush up course prior to your first module of exams of which there are two (two modules in total and you get 6 attempts to pass 14 subjects but 4 goes on any one subject out of those 6 attempts). Another option would be to check out that groundschool at Naples, Florida as they do the ATPL ground. Bit nearer to home for brush up course and exam sittings.
After that, with 150 TT (incl.100hrs PIC for CPL issue) you can move onto the JAA CPL which you can do at many UK run schools in Florida. After that, you could complete the game by starting your IR in Florida and finishing it off in the UK. A JAR (Joint Aviation Requirement) states that the IR test be conducted in JAA airspace which means some hours spent under IR instruction before your test getting used to whichever JAA state airspace you choose to take the test in but UK airspace is most valuable.
Search the web for JAA schools in the US and check out Naples and Bristol for the ATPL ground. The added advantage of going through the JAA route instead of the FAA route is that you could dispense with alot of the hours building because guys get hired with less hours in JAA states than in the US. You say you're from the EU so residency in a JAA state should not be too much of a problem for you.
Just to recap:
1) JAA ATPL groundschool distance learning at home in NYC with either Naples or a UK based school (Bristol is best).
2) Build hours to 150 (incl.100 PIC)
3) Complete JAA CPL in Florida
4) Start JAA IR in Florida and complete in UK airspace.
As for job availability - things are steadily improving. It is still very desperate but things are on the up...... in the UK at least. In the US I don't know of anybody who got hired by a major with less than 2000 hours and a college degree before 911 and after 911 just one guy I know has been taken back on by Continental Express as junior FO.
VFE.
