It's not a music format I'd listen to, but as someone here posted, WHAT's signal is mainly a center city Philly signal, so why not become a niche station that programs to that community. If Urban Gold isn't what would sell, then figure out what format would sell in that market and program for that.
I don't care what those teeny bopper ad people for national spots think, people 55+ still grocery shop, buy clothes, shoes, cars, RV's for traveling, stay in hotels when traveling, eat in restaurants quite a lot even when not traveling, news papers, magazines, etc, etc. Babyboomers are not afraid to spend money. It seems so shorted sighted to ignore such a large part of the actual radio listening audience. They keep targeting the young who don't listen to the radio AM at all, and FM rarely as they are online, I-Pods, Blackberry's, MP-3's, XM radio in their cars, etc. Funny, when I go to Home Depot on Saturday to get stuff for my latest home fix-it project, I see plenty of folks with gray hair there shopping for stuff for their Saturday projects. Somehow, we babyboomers didn't get the word that we're supposed to go sit on the sidelines of life and watch the parade of young people march by. We may not move as fast, and it might take us longer to get the job done, but we've certainly not given up on living life and doing things. Those ad people act like anyone 55+ has got one foot in the grave and the other foot on a banana peel. Somehow, it doesn't make sense to throw away the largest population block that still likes to listen to the radio, just because they're older and maybe you can't sell them on changing brands of soap, or deodorant, but as I listed above there's plenty of other things we buy that certainly can be sold via the radio.
However, it may already be too late for radio to take advantage of that baby boom generation as they enter the older age range. I'm listening more and more online to programming I like both spoken word and music as it's harder and harder to find what I like on the radio. I also buy CD's of music I like, I also get audio books from the public library to listen to when traveling and commuting. Some of my friends in that same age range (I'm 60) have also found other ways to get the music they want to hear without the radio since radio rarely plays our music. A number of them have bought new cars in the last 3-5 years and their car came with XM / Sirus Radio and they love the programming aimed at them and have chosen to keep the subscription going after the 1 year free service ended. When I get my next car, I'll make sure it has XM/Sirus radio too and will probably join them.