Thanks for the kind words about the book! Sorry for taking so long to reply. Here are my top-level thoughts...
I don't think you placed too much emphasis on your extracurricular activities at all. These are key to helping yo uset yourself apart from other applicants. Things like putting your brother through school, starting a club, helping immigrants, and being an amateur boxer are all GREAT ways to differentiate yourself from the rest of the applicant pool, and to help break some of the science/engineering stereotypes that we discuss in Your MBA Game Plan
Regarding your work experience, how good you are at being an engineer is less important than what you've accomplished on the job, whether you've led teams (it's not terrible if you haven't, but try to get this experience), how well you've coached and managed others, etc. Adcomms won't ask, "Is he a good engineer?" but they will ask "How did he make a real difference at his job?"
Your age won't be a huge liability, but you will want to think about he question of why you want an MBA now, and why you waited a long time (relative to others) to get it.
I don't think mentioning that professor's name will help very much. I have noticed that your written English could use some help. Consider getting help for your essays in this regard (maybe even just a native English-speaking friend).
Overall, I think your professional experience is average, but your extracurriculars can set you apart.
Re: timing, I see your logic, but I think it will be hard for you to put together a strong application for a school like INSEAD this year. Their last deadline for a Sep. '06 start is March 22. If you are willing to start at INSEAD in Jan. '07, though, then you can aim to apply by their May deadline.
Veritas Prep | GMAT Prep | MBA Admissions Consulting | Co-author, Your MBA Game Plan
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