Hi Wildblue,
Here we are 3 years later and I find myself in a similar situation to you.
May I ask how your attempts at gaining the licence went?
I also did all the ATPL exams in 1999, then went to HK to fly. Have been flying since on widebodies on a HK ATPL.
My UK ATPL expired in 2009. I have now been waiting 2 months for replies to e-mails from CAA at Gatwick so trying other avenues for info.
I am aware that there is dispensation for IR for people in my situation, but I have found no information regarding dispensations for renewing the licence itself. The thought of doing 18 exams again fills me with equal amounts of horror and contempt. It seems as you say to be a money making excercise.
Would love to get an update on how it went for you.