Yes, the age should make no difference... the condition is all that matters...
An Auto air conditioner will leak over the years due to the design.. at the very least the compressor main shaft which has the clutch on it is designed to get oil to the front shaft seal by pushing it out of the system.. a tiny bit at a time....
If yours IS working... but just not cooling ENOUGH... that is a really good sign... and you will probably have great success doing a simple refresh of your R12/receiver/dryer....
But since you will have to open it up to do that... I really would suggest you read up on what it would take to flush your system before putting those things on it... which would include putting NEW OIL into the system.... and a really good vacuum job on it....