I'm in the same boat, PPL in 1974, flew for a few years then life got in the way. A couple of years ago I decided to get back to doing the only sport I like, flying. There are two 1946 Champs for rent 40 miles from my home and they stay busy most of the time, either flying or in the shop. I made quite a few trips to the airport to fly only to find the weather/wind to bad for my skill level or someone extended their flight time and now the plane is in the shop for a 100 hr. inspection. Also, they jacked up the fuel prices and the price for instruction so I decided to stop wasting my money and roll the dice to get my 3rd class medical again. After the Aeromed Dr. sent all my paper work to the FAA, I got a letter 5 weeks later saying they needed more info. I ended up doing it all over again, new stress test, even though the first one was less than 3 months old, new sleep study and new eye exam. I mailed off 92 pages of stuff two weeks ago so maybe in a couple of months I'll know something. The only reason I'm going for my 3rd class again is because there are at least 25 airplanes within 50 miles that I could have access to, compared to the two Champs. Sport Flying is what I do anyway, I'm not going to fly into a busy airport unless I have my (best friend) instructor with me. I have more time in a 150 than anything else but for S/P, it's off limits. I know at 71 it's a gamble but with the lack of S/P aircraft I feel I don't have much choice.
Bob