I'm interested in this thread as well as I'm the same age and in a very similar position.
I've started the ATPL ground school and hour building on the basis that the market is currently at a low point and (hopefully) more opportunities will be available in a couple of years when I finish. This is the main advantage of the modular route as I see it; it allows you to vary the pace of your training according to when opportunities present themselves. Equally it seems that delaying starting training until a 'boom' time is risky as, due to the cyclical nature of the market, there's no guarantee things will be the same when you finish.
I'm also hoping, as you may be Phil, that 'transferable skills' from another career will make up for being slightly older than the typical cadet, and hopefully more well rounded - I certainly feel I'd rather spend several hours a day in a cockpit with the 29 year old me rather than the 18/19 yo me!
It seems like there is a school of thought on this forum that late twenties/early thirties is a good time to train as you're old enough to have some useful life experience behind you but not too old to slow the pace of learning or be too cynical.