Considering Re-activation. Haven't played since Apr 2007 (month BC was released)

unless you need to get a parked char from 60 to 70, i would wait until wotlk is released. any gear upgrades you work on would be a for nothing when it's out.
 
Depending on your play frequency, I would start up about a month or so before WotlK. If you want to get the full experience of waiting for people to finish quests in front of you and grinding/questing in overpopulated areas.
 
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