I have a regular 35- 40 day cycle (usually closer to 40 days.) I have been off Birth control since July after being on it many years. We've been trying to conceive since October.
I am using a clear blue easy fertility monitor, that confirms that I am ovulating around day 25 (on a 40 day cycle.)
I have heard (by ready and talking too much) that this is too late to ovulate, and that the egg is too old by this point to conceive. My MD and an RN I spoke to said that this isn't true, but really they just blew off my question. So, what is the real story. Are my chances just as good as anyone with a shorter cycle (obviously I have fewer opportunities.) Or, should I start thinking about seeing an obgyn or fertility specialist for help?

The issue with "late ovulation" is not about when you ovulate but when a fertilized egg implants. The day you ovulate and length of your cycle doesn't matter.

There is a theory that if your egg is fertilized but implants into your uterus 10 days or more later, its already started to decompose and the pregnancy is more likely to end in miscarriage.

Since you're tracking ovulation and only started trying in October, at this point you might not have anything to worry about. Most doctors will not consider infertility testing until you've tried for at least a year with no success.