Peace,
First, a sidebar; Took the summer off to be in the field (and enjoy my first summer living at the beach
), and I'm glad to see the forum is still going strong.
Now, in my humble opinion, the ideal course of action would be to just shave it and do the bald thing, especially if you are already headed towards the older end of life.
However, if you catch hair loss early (18-25 early), you can actually make a pretty significant difference for awhile with Rogaine foam. I'm 19, and my hairline has been creeping backwards since I was 16. A couple months ago, I read online that Rogaine can make a difference if you catch it early and decided to try it on a whim.
I now have my original hairline back.
Granted it might not work for everyone and requires consistent use, but it was definitely a big confidence boost.
Jay