Hello again,
I have received some wonderful advice from you guys. Some things I picked up that I think are going to help me a lot are:
1) Do it for the Lord first and foremost. Anything else really doesn't matter.
2) This is not a race. Slow but steady will take me to the level the Lord will allow me to reach.
3) Put in the time. I just put the bass down after about 3 hrs of practice in the living room while my wife watched TV. Only time will tell if I can maintain a reasonable pace or if I will fizzle out after the first 150 meters...
4) Remain flexible, young and "fresh". I understand the concept, but this is rather easier said than done. Hopefully my kids will help me in this area.
5) I'll be 50 in four years, the Lord willing, whether I play the bass or not. I think it would be better to get there while playing, however small my progress might be.
I know promotions come from the Lord, but I'm going to go out on a limb on this one and *self*-appoint me bassist of our household.

During our family devotionals my oldest (16) plays the guitar, my youngest (14) follows along on his and also sings, and I'll play the bass. We got some songs I got Guitar Pro 5 files for, so we can play the songs while muting each particular instrument track. That way everyone gets to play his part and we all have a good time. After a few songs we can break for Bible study, praying and ministering unto the Lord which is (should be) the reason for it all.
When I grow up ("bassically" speaking) I may shoot a video of us playing and post here somewhere for your amusement and critique.
Blessings to you all.