Why does the world look so old?

I was thinking of writing a blog post about the theological consequences of accepting the old earth theory (i.e.: the earth is several billion years old) and then reading that into the Bible, but it appears Dr. Albert Mohler did that already and did a much better job than I could at his address at the 2010 Ligonier Ministries Conference.

In summation, beyond just the natural reading of Genesis 1 and exegetical arguments for 24 hour days (which, despite the day-age theorizing, are so strong that it's difficult to hold to the inerrancy of the Bible and an old earth), holding to an old earth theory of "creation" has a profound effect on one's theology.  For one, the historicity of the Fall cannot be held to.  If one cannot hold to a historical Fall and the resulting effects of sin (one of which being physical death entering the world), then a great deal of the Bible's teaching on sin and redemption crumbles.  For instance, the way Paul shows the necessity of Christ's redeeming work in Romans (particularly chapter 5) is based on a historical understanding of Adam and the Fall.  What does Christ as the second Adam mean if there never was a first Adam?  Or if Adam was just one of a great number of evolving humans, how then can he be the father of humanity, whose sin affected all humanity as his progeny.  

Here's Mohler's address here in video form, or here as a transcript (incidentally, hosted by the very organization, biologos, he was speaking out against).