I had an interesting inquiry with a client that began with this question - "What is the defniition of a legacy application?" Yikes, I thought - this will be one of those long-ranging, rhetorical discussions that - at the end of the day - lacks the kind of decisive answer clients typically seek during inquiries. The client actually had a good reason for wanting an externally published, formal definition - an external entity was attempting to measure the company's risk by quantifying its exposure to "legacy."
There is a lot of noise lately from 2 camps - one swears that the availability of people with mainframe skills is drying up rapidly - they either forecast dire shortages, or note problems hiring for certain positions internally. Most of the trade press articles are firmly in this camp.