Yes they do, as long as you keep up with the trends, one of the things that tends to happen is at a certain age, usually in the 30's many developers will decide to sunset. e.g they just stick with COBOL, Java, etc. It can be a good career choice, usually there is an apex where wages decline or stagnate for a 5-10 years and then they see their effective wage start to rise given that new personnel entering the field opt for other technologies and older peers leave the industry. Given that reality a good deal of older programmer choose to take that course.

I don't think that age discrimination is as bad in the industry as people think it is. I think rather sun-setting at some point becomes too much of a draw for most and you also have those that defect to management. I know in my start-up experiences when I was young we used to look up to the older developers that took the effort to stay relevant.

Personally, I would hire someone of any age if they are proficient and have passion to build something. I think there may be some organizations that may look at older developers and think well we can't get 80 hrs a week out of them, but I think they are the minority and I personally would not want to work for an organization that would expect 80hrs a week a standard course.