He lost 2002 because of his injurie that made him stop squatting. So lack of squats cost him at least one Olympia. See anabolichalo?
Anyway, during his transformations he did heavy squats again so whatever problem he had with his backs is no more. I believe he can do that. Yes, he's of my mom's age but so what. Let's be honest, guy looks 30, is fit and healthy like 30yo. I could make a case that his body is younger, fresher than Jay Cutler's AND he has much better genetics, no ugly looking tears and no visible oil.
Oh and by the way, he doesn't necessarily have to win Olympia. With current lineup AC could be taken by even worst version of Levrone. Let's be honest here, these guys nowadays come in fat as fuck. I don't think it's gonna be even close.