moda07,
I heard on the grapevine that the CP of REX has been doing handstands about a recent recruit. A middle aged dentist who has spent the last 20 years flying his twin beech around single pilot on private ops! Now just how well this particular individual performs will remain to be seen. But I assume the cause of the CP's excitement is probably because of how this individual's "experience" compares to the number of candidates that they have been getting lately.
The motives for someone wanting to put themselves in this position can only be guessed at, but I think it's a safe bet that money is not a factor.
In your case, my advice would be to get yourself requalified and current. Just how long and expensive an exercise that will be is ultimately up to you. IMHO you are definitely not too old, not now. When I was learning to fly, if you hadn't made an interview with one of the majors by age 25, you had missed the boat! Times certainly have changed.
Best of luck with it. apply to everyone. You never know what might turn up.