That's one thing I can never seem to figure out: Is it ever too late? If you think about it, it really all depends what you're talking about. Some things should just happen because they need to. Other things seem able to be dug up, again and again, poked at, scribbled out, and fix yet again.
... For example, my writing. That's the cool thing about writing; you can leave a story for months and then come back to it to find it still the same, perfectly preserved.
Yes, it's a second chance.