I'm along the same lines as you... I got down to 14 when I was younger, but the children are still too young for me to get back to playing.
As far as I know, and i'm sure people much more up to date than I will soon be along to correct me, but your irons, if good at the time will still be reasonable. New irons will have you hitting the ball further, but thats because a modern 7 iron has a similar loft to an old 6 iron.
Imo, get playing again and as and when you fancy changing things then change them.