If nothing else, older & senior golfers these days are
way more competitive than they used to be at Augusta National (and just about everywhere else). When Nicklaus won the Masters in 1986 at age 46, it was regarded as a remarkable feat for someone that "old" to be competitive in, let alone win, a major.
Last year, Kenny Perry, at age 48 /49, was one stroke away from winning the Masters. Other than the fact that it would have made him the oldest winner of a major, his age was no big deal, as he (and other golfers in their mid- to late-40's) are frequently competitive on the PGA Tour.
It would be interesting to see how many past winners over the age of 50 have made the cut at the Masters in the past 5 or 10 years. My guess is the number has gone
up vs. earlier years, as most of those guys are keeping their games in shape by playing regularly on the Champions/Senior Tour.
Remember, nostalgia just isn't what it used to be.