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Will it be ok to buy an aged domain from a dead website?
Yes aged domain is always valuable if its PR3+ and never sandbox in Google ranlinks
Yes aged domain is always valuable. In fact you can 301 them to your sites for better rankings! I'm not pretty sure if the penalty passes though, you can research on this.
It depends on what kind of name it has. The aged domain should have a name with a commercial value. The domain name should be keyword rich and brandable. there is no point in acquiring sjpw34qee1.com even if it is 5 years old. However, if the domain name is something like whitetiger(brandable) anxietyblog (keyword rich) it is profitable to buy an aged domain from a dead website.