I am under 40 and I wear a leather jacket.
It's lambskin, designer and last winter I got it for 120 bucks at Macy's.
It was marked down from 495. I had to have the sleeves shortened. I have a surfers build. I get a lot of complements from our CSRs at work. They are female, cute and younger than me.
It is my first leather jacket. I really like it. Most importantly it isn't an aviation leather jacket for pilots.