TWENTY-FIVE years after they first burst on to the rock scene as the wildest, loudest band around, they have more white hairs than a polar bear and are old enough to be the grandfathers of many of today's fresh-faced chart toppers.

But The Who, despite once expressing in "My Generation" a wish to die before they grow old, live on.

They may be a bit long in the tooth but, as they recently proved on a sell-out 25-city tour of America, they can still whip up the sort of excitement that was always the hallmark of their frenzied heyday.

And they are now playing their first British concerts in seven years, defying the age barrier to prove that they have lost none of their magic.

"We were due to play some other dates in Britain at the end of the last tour but we could only fit in Birmingham and that left something of a bad taste," admits Roger Daltrey. "We want to make it up to our other British fans who have kept the name of The Who alive for all these years."

Those years have brought Daltrey, John Entwistle and Pete Townshend vast wealth. But there has been a good deal of unhappiness, too, since they first scorched up the charts with "I Can't Explain".

In their wild days, the dominant band members attracted as much publicity for wrecking instruments and hotel bedrooms as they did for their ear-shattering music.

They argued bitterly among themselves and saw their zany friend and drummer Keith Moon die from a drugs overdose in 1978.

Added to all that, the years of belting out their unique blend of raucous rock have taken their toll on the lads' health. Pete Townshend, in particular, suffers from permanent ear damage.

So why bother to turn back the clock and go through it all again? Especially if legendary stories of their in-fighting are true.

Today, older and wiser, they say they are all mates again... and that the verbal fisticuffs were born more out of a lack of communication than personal hatred.

"The problem was," Townshend explains, "I would be in one room talking to a journalist about the band's masterplan and Roger would be in another doing the same.

"When we compared articles we would see that we had both said totally different things and the arguments would start."

None of the famous threesome needs to tour again. Each of them went off down his own individual road long ago.

Daltrey has become a proven actor, Entwistle works with another band and Townshend, a publishing executive, is working on a rock musical.

It was the money, no question, that attracted them to the Grand Tour, which takes them on to Wembley and then to the Royal Albert Hall for two performances of classic rock opera "Tommy".

It is estimated that their reunion could net as much as £60 million. Whatever the actual figure, it's certainly enough to enable the living legends to donate a staggering £6 million to charity without feeling the pinch.

Will we ever see them together again after these concerts?

"We have not made any further plans," says Entwistle, who is compiling a history of the band.

He thinks it odd that there is still such a fascination with 60s groups in general and his in particular.

"I can't understand why people are so obsessed with it all," he says. "Looking at old pictures of ourselves when we started we all looked so unbelievably young and I find it difficult to relate to those days.

"But we're pleased that people still get a kick out of our music. That seems to make all those years worthwhile."

The Who play the N.E.C. Birmingham again tonight, and next Monday and Tuesday.

Then it's Wembley Arena on October 23, 24, 26 and 27. They perform "Tommy" at the Royal Albert Hall on October 31 and November 2.

● DYNAMITE DALTREY – Rocking Roger still knows how to wow his fans.

● DRUGS DEATH – drummer Keith Moon.