I believe it's also discussed in a novel somewhere. Essentially, they don't usually train anybody older than a year or so. 6 months and younger are preferred.
I did read an interesting message on this over at TFN years ago before AOTC came out. Since Jedi aren't allowed to marry or have children, the "Jedi gene" should die out. If Lucas had left it as an ability that could be learned, everything would be fine. But since it seems to be genetic, Jedi would basically make themselves go extinct since there's no way to pass on that genetic code.