Many people have committed murder in their teen or pre-teen years, and were not found until they were nearly seniors in wheelchairs. This is not common, but also not uncommon. Even the nazi generals that we came into contact with many, many, many years later-- were taken into our control, and we basically imprisoned them for what they had done many years before. This principle applies to all ages, wether it be murder or conspiracy, it is all relevant.
If you committed a crime a long time ago, you are still able to be prosecuted at any point in your life. Crimes are not absolved until justice is served for those crimes, and feeling remorse for a crime alone is not the same as being dealt justice for what happened.
You still committed the crime. We can't just let people argue "oh but I'm remorseful" and get away with anything and everything. But remorse should be taken into account in the sentencing phase. If you clearly showed remorse then the judge should be able to give you a sentence that allows for parole at some point.
There is a reason that it (the statute) exists. It's not because if we don't catch you it's our fault but instead that people grow and change significantly over time and pass crimes actually lose their logic. It's too old to truthfully pursue since the offender is a totally different person. Mind you that is presuming you're at least 10 years older than you'd be at the time of the crime in some cases.