The advantage of getting a Class 1 now rather than later is that the initial exam standard is fixed whereas renewals allow for the ageing process. So, if you take it now while you are presumably a normal healthy fit Class 2 holder, all your renewals will make allowances for things like changesin hearing, eyesight etc. If you wait a few years while the hiring cycle sorts itself out you may find you have a bit more of a challenge.
Another advantage of doing it now - there is no waiting list!! I phoned up on Monday, was at Gatwick on Wednesday and had the medical cert in my postbox on teh Saturday morning! Well done CAA!!
Fully endorse what was said about getting the Class 1 BEFORE investing too heavily in the courses. All learning towards an ATPL will be beneficial even as a PPL if you dont pursue the pro-career but it is better to enter the study phase with you eyes open as to what your end ambitions are.
PS: I am 34 and working on that elusive ATPL. 38 doesnt seem to be over the hill. Way I figure it is that airlines may well want a mix of ages in their hiring pool to smooth out retirement bulges.