Well, so let's see. I understand Pat's action. I haven't closed a lot of the old ones I run across, mainly when they are a legitimate question that was CW-ed because people were CW-happy back in the day and you can't un-CW a question. I don't think we should close an existing one (and likely open a new one) in that case - may as well have the legit question that just isn't giving anyone rep; I don't really care that much about rep in general.
A bad question, old or not, CW or not, should be closed. But the close should be like any other close - we should be seeing if something can be salvaged out of it. Keeping in mind @AceCalhoon's wise admonition about not invalidating answers. We do allow game-rec questions, and I think this specific question can be retooled without affecting the answers to a site-acceptable question. I'll try to do that now.
In the end, I believe CW-ness is irrelevant and should not drive action. Good question or bad question should drive action. For a good question, we should all be voting it up and contributing to it. For a bad question, we should be trying to make it better, or closing it permanently if unsalvageable.
"Front page" isn't technically a criterion, but obviously if stuff pops up it gets some eyeball review. I see no need to go do aggressive historical revisionism, but as stuff comes up, may as well fix it, for the various options of fixing. There's no grandfather clause per se, though I would certainly edge less towards action if it is a well-participated question with lots of quality answers.