Whether or not 60 is too old is often a matter of perspective. Most people 50 or older would not consider 60 too old. If he produces he could be there 10+ years. Of course, anyone under 30 would think 60 is ancient.
That is one of the points my husband is hopeful about. He thinks that a plus about the new coach's age is that even if he is successful, he isn't going to be wanting to hop off to a glitzier job and maybe will be there for a while and bring the program some stability as well as wins. As you said, it is all in perspective. Everyone will know in a couple of years if it was a good hire or not.
All of this and if he does even a decent job at recruiting he could end up being competitive in thier division. Which is where they need to get to right now (before trying to get anywhere else)
i think it is good hire for tulane, very seldom can you get someone with that major div 1-A experience.