Not sure that age discrimination is rampant but I do believe (and witnessed in interviews) that lot of people don't keep up with technology and then later use age discrimination as excuse.
Experience in relevant technologies trumps almost everything else.
Disclaimer: I am in my late 40s
Does "keep up" require experience that can be cited on a resume?
"Experience in relevant technologies trumps almost everything else."
Hmmm, in my experience, unless it involves a big paradigm shift, such as moving to OO or functional programming, new "relevant technologies" can be quickly learned on the job, unlike being able to design systems, write good code, debug quickly if that's possible, build and debug systems, etc. The sort of stuff that takes more than a few years to learn how to do well.