The only valid argument I can think of against accepting expired ID is that the average person probably also renewed their ID and has a current version. This means it's easy to pass the old ID off to someone else who looks similar.
...other than that...I saw an article with the lady who had a face transplant. She was still using her old ID with a normal looking face even though for a while she has had a very horrible looking face. The ID was still valid, but boy had she changed.
http://www.msnbc.msn.com/id/30586321/
http://www.cnn.com/2009/HEALTH/05/04...ent/index.html