Was just about to post that if your Mac doesn't meet the required Bluetooth spec, you're screwed in terms of Handoff (but not necessarily in terms of other features under the "Continuity" Umbrella, like SMS relay and Phone relay, etc.)
It's really too bad, but Bluetooth moves forward as well. What's a bit disappointing is that the spec happens to be included in only 2012 Macs and up.
That's 2012 and later, folks, believe it or not.
It seems a little too...