I suppose... I'm just having a hard time envisioning a bunch of 70-year olds sitting around a table saying, "Oh, I forgot the +1 from Eldoth's Prayer spell, so that's 15 points of damage instead, beyatch!"
I mean, how many orcs does one have to slay in a lifetime before it becomes kind of old hat?
I used to have a friend in college that had been playing since he was 12. And, whenever he'd make a PC, it was always some oddball thing that was painfully non-standard, like a zulu warrior or something equally weird. I told him, "why can't you just make a neutral good male human fighter" and he would shudder "I've played every race/class combo there is, so I have to keep searching for something unique."
I can't imagine what kinds of PCs 70-year olds might play to challenge them, and still keep the game interesting. I mean, will I still have a thing for clerics 40 years from now?