MBAUncle
xolod
bsyde
As an older applicant...
How can one call a 30-something year old an "older applicant"

I just don't get it. In my oppinion, there is absolutely no difference between a 27 yo and 35 yo applicant. What really matters are your accomplishments and motivation to pursue an MBA.
I agree with you but statistics shows that the crude truth is that every year Harvard and Stanford admit an extremely low number of people over 30's. Even K/Chi/C/Mit, etc also have few spots. Wharton seems to be the most "old" people friendly school.
Obviously it is related to the profile of people that goes to the consulting and banking worlds: young with full of energy that will think that it is normal to work 80 hours per week.
In talking to a few adcom people, since I am going into non-traditional field, they said my age mattered less. However, if I had been targeting consulting or banking, they said they would have taken note of the fact that I was above the average age. It has a lot to do with employability in those typical MBA industries as well as the ability of the individual to gel with his/her classmates who will on average be a lot younger.
When I attended admit weekends and recruiting events. There were only a small handful (2 that I remember) of people that were around my age. Most were around 5 years younger than I am.
All that being said. I got into and will be matriculating at one of my dream schools this Fall. So, though age may be a factor, it definitely isn't a showstopper. Apply and if your story makes sense to the adcom of why you need an MBA and where you'll be going afterwards, then you can definitely get in.