Ultimately it is up to you to decide if it is worth it or not, and to be honest the possibility to solo and do other things like campaign etc for exp has increased. However a lot of the problems you mention are still there and this really is not the best game if you only have an hour or so here and there.
I started over again a few months back and I was more or less in the same seat as you and well, in the end I quit again simply because it still isn't really worth logging on if you don't have several hours to play(I think this applies more to the lower lvls though because campaign, besieged etc aren't a possibility yet). Money is also something you still need to farm etc in ways that imho is immensly boring(With the exception of BCNMs, but you only have a limited of seals and drops worth money are never 100% droprate so.)
Like I said it is up to you, but from what I got in your post I'd say the risk of you "wasting" your money if you take up FFXI again is pretty high.
Whatever you decide I hope you make the right decision and remember, if you decide to try it again and in the end quit, if you have had some fun in the process... maybe it was worth it anyway
That's how I felt anyway, even though I "wasted" my money.