Yes, but for all they know this Type 40 traveled to Gallifrey "present" directly from the assembly line, however many years ago that was. So to be so amazed that one was "still" in service makes no sense coming from time travelers.To respond in reverse order...a timelord's temporal POV is probably Gallifrey-centric so speaking about an "old" Type 40 makes sense.
You're living the dream man. Living the dream.So I'm listening to my wife sing our kid to sleep right now and not that it ever needs confirmation but you really know you've ended up with your true love when her version of "Old McDonald" has a verse that goes..."and on his farm he had some Daleks, ee i ee i oh. With an EXTERMINATE here, an EXTERMINATE there, here EXTERMINATE, there EXTERMINATE, everywhere EXTERMINATE..."