Good thread and great post YVRKid.
E.W. - It's not impossible at your age and it certainly has been done before. I know FOs who got their first job flying an Airbus in their mid 40s after a few years of flight instruction behind them.
I'm sure you're aware that you probably wont walk into an airline job as easily as someone younger than you, but I say again, its not impossible.
Be realistic, set yourself achievable goals in the sense of time frames and don't let the ATPLs get you down! If it all goes tits up at least you can rest assured that you tried (assuming you can afford to waste the money if that is the case).