Desert185,
Correct, if you stayed as an F/E past 60, on the date of the age 65 rule, you could bid back to Captain. How many F/Es were there at the passenger carriers in 2007? Not bloody many, perhaps ZERO. If you turned 60 the day prior to the change, you were retired and not coming back.
As to flyboyike, we just hired a guy into corporates from 121 RJs, no seniority here, he'll probably make captain in two years, regardless. All are guys are captains and when ready fly and are paid as such. So, Ike, put your money where your fingers are.