In my case i would be following what i think is good, ie Master work PhD, (just in case someones been following to know what i'm going to do, i haven't committed to doing the PhD, but could do it). I started this thread to gauge how people view others doing PhD's later in life, seems the response has been largely positive.
What path people choose to take, depends on lots of factors, not just academic ability. Perhaps it would be ideal to do Bachelor, Masters and Finally PhD, then work, as opposed to Bachelor, Master, work and PhD. Its not just the academic brilliance, that contributes to the decision you make, its also lots of other factors too. Those who get to follow the ideal scenario, are usually the lucky ones. Circumstances as well as situations in life also plays a big role, just as does academic brilliance.
This discussion should help others who come along on this path. Good luck with whatever decisions you may reach when you get to this juncture, and hope this thread would help you in making those decisions.
Since this is a fairly important decision, i'd suggest that more people add their experiences on here, also highlighting the field they are into. Just as Bmore_2_uk, Ksand24, Elynor, have done.