Hoshi no Kenta
First and foremost:
Xehanort was probably never a chaser, or else, he is that old man. Xehanort is the main thing that Terra says before fighting him. A lot of his speech is hard to make out due to lack of strength probably, but when he finally remembers all that has occurred he yells "XEHANORT!" and draws his weapon to fight. I don't think the Chasers would have had him in their ranks if he was that much of a jerk. Plus that kicks out the theory of Terra being his father, because they were both alive at the same time (and the Old Man, who probably is Xehanort... is well, old).
As for Mickey... I think many have forgotten the Keyblade he uses is the one he found within the Dark Realm, whilst Sora has the Keyblade of the Light Realm. So he never had a Keyblade like that before the events of Kingdom Hearts 1.
Also note, that it is Star Seeker, the one you get from Yen Sid. Mickey is more than likely still in training at this point of the story, as Yen Sid is his teacher.
That's a good point you have about Micky and the Star Seeker Keyblade, and that is probably more likely than my "Mickey ancestor" theory. But I have to point out that if that is true, he must have been near completing training, since we can assume that him and Ansem the Wise meeting was not very long before KH1, and in Mickey's memories of seeing Ansem, he was wearing his normal king clothes as opposed to the black ones.
I cannot say the old an in the extended trailer is Xehanort, since we've already seen what he looks like and is no where near that age. In fact, I don't think the trailer has any ties with Xehanort aside from the floating text, unless he is the 4th Chaser, which I seriously doubt. What happened in the trailer most likely happened before Xehanort and Sora were even born. Think of it like this: When Sora recieved the Keyblade, we knew that is was because his heart was strong, as well as pure, and seeing as there were only two others beside him who can use the Keyblade (Riku and Kairi, I don't count Roxas since he is Sora), we can also assume that not too many people can use it nowadays. However, at the beginning of the trailer, we see a whole sea of Keyblades in the form of the Crossroads (this in itself probably means something). Also, notice that the old man can use a Keyblade too, even though he is clearly evil. That could lead one to believe that there were more Keyblade masters during the time of the Chasers because the Keyblade only looked fro people with strong hearts, ignoring their purtiy of lack thereof.