T01, I can't speak for anyone else, but if you apply to airlines within the QF group you will have to do a sim ride. That knocks a lot of people out. Most applicants are current, but some are not. Personally, I would not attempt the sim ride without at least being current. If you can't get current (or current enough), PAY for some time in the 767-300 with an instructor.
The person doing the sim ride has no idea on your experience or currency. That is to keep the playing field level.
Therefore, you only have to work out how to explain at interview why you haven't been flying. The significance of your employment status in the industry is largely dependent on the company's needs.
Good luck.