It's interesting to compare actors in old-age makeup with how they look when they really do get old. The makeup artists rarely come anywhere near the truth.
I've often noted that too. But I wonder how much of this is due to the cosmetic procedures nearly everyone in show business has done these days. Facials, chemical peels, face lifts, hair dye, wigs, hormone therapies... we have no idea what aging actors would really look like without all the work being done.