I'm 36 and I've been riding fixed for several months now and have been loving every minute of it.
I have skated for years, and though I rarely experience any sort of prolonged knee pain, it would happen on occasion when sitting in a weird position or crouching for any extended period of time and would get some mild aches and pains here and there.

I hadn't had a bike for years and shortly after I started riding I found that my knees felt better than they had felt in a long time. Strengthening my muscles and using my knees had done away with the aches and pains, and crouching or sitting cross legged wasn't as uncomfortable anymore.

All was going well until I went to the velodrome and blasted around the track without being warmed up.
My gearing was 48x17, which isn't very high, so I probably maxed out at 30-35mph at around 158rpm's.
Let's just say my legs were going up and down REALLY fast. I was also wearing toe clips and straps and I usually ride with Time ATAC's, as my old knees appreciate the float. I'm also slightly bow legged and I had been experimenting with my saddle height and it was apparently a tad on the high side that day as my ham strings and the area behind my knees got tight. The day after this experience my knees were screaming at me and they haven't been right since.

After doing some research online I found that Iliotibial Band Syndrome is pretty common among cyclists as I'm exhibiting a lot of the symptoms (soreness just above and towards the outside of the knee area, tightness on the outsides of my thighs from my hip to my knees) and it seems that having slightly bowed legs would make me more susceptible to it. A friend referred me to his orthopedist, but I've been holding off as I don't have any insurance and it's going to be a minimum of $150 to see him. So I've been off my bike for over a week now, and probably will be for a minimum of six weeks altogether. I've been icing and raising my knees, warming them, massaging my thighs or having them massaged, taking Aleve to reduce swelling as my knees tend to get sore if I do a lot of walking or am on my legs for any period of time, trying to move around as little as possible. I've found some stretching exercises that I can do, but haven't started a regimen yet. I'm hoping all this will allow me to slowly get back on my back and be okay because it goes without saying that I miss it, and I'm worried I may have really f'ed myself permanently. I plan on getting properly fit for my bike and investing in any sort of orthotic wedges to make sure I've got proper knee alignment as it seems I've got too much lateral movement going on.

Anyways, I know this is a lot of information, I just wanted to get some feedback from anyone who has experienced anything like this and if there is anything else I might be able to do, and please tell me it's going to be okay because I can't stand the thought of not being able to ride anymore.

Andrew