Well, YOU determine whether it's okay as a CCW gun or not. If the gun isn't firing or if it's missing chambers or otherwise out of time, yeah, it's getting up in years. It's not really designed for a steady diet of .357 full house loads, but it all depends on how your gun is holding up. In short, it doesn't have a countdown counter in it where it will stop working when it hits "zero." And when it starts to go, you'll know.
Rossi gave me far less grief than Taurus. From what I understand, you can retime your gun once or twice, then the frame of the gun will be so warped that you'll have a tough time making it work.
Most of this magnum longevity stuff is right between your ears unless you're just trying to wear it out.