My instinct would be that (biological) immortality is (mostly) non-existant not only because there is no evolutionary pressure not to die, but because there is evolutionary pressure to die after begetting offspring. Very long lived progenitors would homogenize the gene pool, if not by incest then by sheer number of offspring. This would make them fragile in the face of both genetic errors and environmental shifts.
To counter this fragility, child birth might be infrequent. However, if child birth is infrequent, there is an increased probability of death before child birth.
What a true scientist; most people are content to think we dote on grandchildren as a civilized people with innate appreciation for new life. Rather, our genes will eradicate those who fail to help their offspring's offspring survive.
http://musingsofscience.wordpress.com/2010/07/21/book-review...
I'm pretty sure this is untrue; the likelihood of offspring drops pretty precipitously after certain ages.
That's a bit of circular logic though. We can't explain why we age (and thus die) by pointing out that we age (and thus are less able to reproduce).