'Total hours' and 'hours on type', is simply a means of putting a meaningful numeric value on 'Total Experience' and 'Experience on Type'. So it must relate to 'Years of Experience', as hours on type can only be accumulated within years of experience.
If those hours are accumulated over an extraordinary length of 'years of experience' this can only dilute any perceived benefit seen as a result of accumulating the hours.
As for the age factor, without knowing of any unusual factors, I personally would view the early starter more favourably than the late starter.