Even though I started training relatively late at 38, it wasn't until recently that I actually found myself consciously thinking about the potential for injury every time I train live.
I've never really suffered from any major injury (i.e., anything that required medical intervention) - a labrium tear here, a popped rib there - other than my eye, which is more of a freak thing than something that the average person training should ever worry about. But now, I find myself calculating risk with every move I make when sparring.
Admittedly, I never played a wild and crazy jiu-jitsu game. So the adjustment is more psychological than physical. But it is a real adjustment, and it feels like the kind of switch that, once flipped, won't flip back.