the identity of the Nerevarine is unknown and unknowable. I suppose he could be your version of the Nerevarine, but he is not the Nerevarine.
Perhaps if Sul is the Nerevarine, age CANNOT HARM HIM. Doesn't necessarily mean he can't. Quite possible that he simply can't die of age.
As for his being raised in Morrowind, perhaps that is Nerevar's memories confusing him. Or perhaps he's simply lying to keep things simple.
I thought I read that it was suspected that the Oblivion Crisis was triggered by the Akaviri. Maybe when he went there he entered an Oblivion gate, thus paralleling him to Sul. Perhaps he got wind of what the Akaviri were up to, and went to prevent them.
Sul also mentioned having been captured by Hircine before, just like the Nerevarine.
Honestly, I doubt Bethesda would back themselves into a corner by having a "canon" race, six, and identity for the Nerevarine. Just look at the outcry agains Lucas for making declarations on the identity of Darth Revan from KOTOR. A fun possibility, and I will personally believe this unless future games or novels disprove it. It WOULD be a great story element, a nice twist for a future story. I mean, so many are angry that Morrowind, which we are all attached to, was ravaged so badly. I think most are just as attached to the Nerevarine, and I personally hated seeing him replaced by a rather generic hero in Oblivion.