I would say your prospects are very bleak.
I am nearly 40 and have been qualified for over a year. Age discrimiation is massive in aviation. I have been turned down from airlines where my younger lesser qualified friends have had interviews.
Although the airlines will say that they want to employ competent pilots regardless of age and the age/experience factor, but the reality is that the majority will not.
There is a mis-conception that because you are older you are on the down slope of the learning curve and cost the airlines more in training costs. I have an average of 97% for my ATPL exams, went to one of the better schools, first time passes in all exams/flight tests but I cannot even get a sniff of an interview!
The airline recruitment is very old fashioned and blinkered.
There is hope though, because an EU Directive on Human Rights has to be implemented before the end of 2006 whereby you cannot discrimate. But all that will happen is that the airlines will not put an age limit on their criteria but in practise will still apply one!
Sorry , its a bleak picture, better you know the truth than listen to the training schools which are only interested in your money and put yourself and your family through a lot of pain.
GOOD LUCK what ever you decide.