Go for it. I just turned 40, wasnt current and I am instructing for a few months before applying. My youngest daughter is graduating from high school next year and my wife and I are gonna give it a shot... if I get hired. This took alot of consideration, considering I was a CFI at 21 and have had my ATP for 10 years. I just couldnt make a living for my family during those years flying. I agree with the previous post about older applicants looking attractive because our chance to go to the majors are slim, but mainly beacause of maturity. Best of luck.