Mr. Flashpoint...I agree, completely. Much of what you said was what the Music of Your Life sellers preached in the 1980's/1990's.
This time, there's a HUGE difference: there's one hell of a lot more people in the so-called Baby Boom Generation than any other seguement of the 2011 population. People born 1946 to 1964...folks today who are age 48 to 66. Not young, but certainly not geezers either.
So, that short-sighted advertising agency position seems be changing a bit. In the middle of 2011, a major advertising rep firm piece called: "Alpha Boomers" was released. It's about the size of the Baby Boom Generation and their financial assets, and why many advertisers should reconsider going after their $$$'s. Pretty interesting stuff.
Perhaps if you do a google search for "Alpha Boomers" maybe the study will come up...who knows.
In a tough economy that for most of us doesn't look like it's improving a whole lot anytime soon (or ever)....why not seek out the $$$'s that are available? Who cares where those dollars are?
Need is the mother of invention!