Perhaps I can be of assistance...
As it happens, I am 45 years old, going on 46, and I myself am about to venture into that perilous quest to pursue my MBA. So it is that I have been considering very much the same question, and it prompts a few counter-questions:
1. What, specifically, do you plan to do with your MBA?
2. If someone looked at you by your resume, what career course would they most expect you to pursue?
3. What are you willing to sacrifice to accomplish your goal?
You see, by the point you and I reach, we have established a track record. Schools will judge us by it for the same reason we judge job applicants by their resume. If what you want looks like a drastic change, people will wonder why, but if your course needs an MBA for the next step or one in about 3 or 4 years, then you will gain respect for demonstrating that forward-thinking.
In my case, the executive level for the company I work at, is strictly MBA-only, but the MBA does not have to be from a super-school if there is solid work as an employee; they like to promote from within. So there is a natural, and more important permanent road to a Director's chair by showing my value as an employee, and by carrying the credential. So for me, living in Houston and knowing the ways in which my company grooms executives, I do not need a high-priced degree, but I do need an AACSB-accredited school with some name recognition.
I understand that a lot of folks love the lure of investment banking or the CEO's chair, but in my case I am chasing a spot near the CFO, especially since my company has not yet put anyone in charge of Sox documentation; no one seems to want that job, but I would love it!
Anyway, I hope you get where I am hinting. Figure out what you want and what you are willing to pay to get it, and that will tell you what sort of school to look for, and what to avoid. Because just as there are many companies out there, so some schools, despite their reputation, may not be the best thing for your career, while a few details can tell you which school can accelerate your success.