I don't have my copy of the Return of the King with me right now, so I can't check the appendices for exact dates, but according to The Hobbit the Old Took died at the age of 130 when Bilbo was still young. When the four hobbits left the Shire, Frodo had just turned 50, so Bilbo should be 118 or something close to that, so the Old Took dying a century ago should be more or less accurate, assuming that the MMO is set during the journeys of the fellowship.
While I'm posting anyways, I should tell you that I've enjoyed your stories of them (both this and the Star On Chest series) much more than I enjoy actually playing MMO's. Not that I'm a particularly big fan of MMO's, but still...