Nothing wrong with doing the Joanie thing and racing as a master - if she enjoys running. BUT, I would avoid racing for a few years for PR and get back to a reasonably healthy state first with no pressure to run fast (at least on world terms) or make teams. Then take it up in her mid-40's as a serious recreation - the comparison's to her elite days will be less likely to exist then. I don't see her getting into coaching, and I have heard that it isn't something she wants to do anyway.