I have a Polar CS100 with chest strap. I am 43 and have my limits set at 130bpm (lower) and 155bpm (upper). Typically when riding for 1.5 hours I end up with only 15-20 minutes within range, 5 minutes below, and the rest is above. On occasion I get above my theortical max of 177 but only for a few moments – the most I have hit sporadically is 181. I stopped worrying about it after a few months of not dropping down dead.
I find I have to really slow down and relax to get it down to a consistant 150, and TBH I no longer really bother.
Marv