"Old Age" system in Dom3 - need some info

[Archonsod]

Meglobob said:
Why recruit a unit that may die any time unless u have no choice?

You could apply the same logic to every unit you recruit when you think about it

Older ages tend to be more powerful. If you want a mage of similar skills, then the only usual alternative would be to buy a younger mage and then invest in boosts or empowerment to get to the same level. It's cheaper to simply buy the older mage (especially if you can reduce or remove the aging problem).

Old mages would just retire anyway or solve there age problems with magic,

They can solve their age problems with magic. As already mentioned, there are a couple of spells and items which negate or reduce aging. You simply need to give them the order to do so

On the subject, does Regeneration affect aging at all?
It would seem logical to me that a mage with regeneration would have a longer lifespan and much less chance of injury than one without...