I am a 34 year old applicant to HBS this year. Will be 35 next year by the time the course starts. If I go by the stats - I am simply no where. I don't have any non-traditional discriminators (combat experience, PHD etc going for me). Over the last 12 years since graduating from the Engineering school - I just couldn't get my act together to apply.
I am going ahead to see what happens. No body knows for sure and rumours abound. I prefer not to pay heed to misconceptions and keep the faith. It's a hard sell at the end of the day and as somebody mentioned earlier - it's even harder for the schools because, yes indeed, they have a legacy to protect.
I would say - apply with conviction and with all the might as you may have. We are ALL unique without exception. Our circumstances, abilities, motivations are all unique and it's how we package these essential elements is what truly counts. If nothing, simply applying to schools like Harvard is an experience in itself. I have learnt a lot from the process.
The older applicants really have nothing to lose. The odds are stacked against us - so instead of focussing on the outcome, it's better we focus on the process and see if we can learn a thing or two. Life has certainly much more to it than getting an MBA.
Good luck to everyone and may the force be with you all.