It does not matter, Rocky does not give up. If it is his time to die at the hands of someone else he will die in this final film. But, I am really looking forward to this film.
As for Rock resembling a "OLD ASS FRANKENSTEIN", possibly, but that is entirely subjective. The truth is Sly still is in exceptional shape given his age, far better than his peers!
Based on the previews flooding youtube, it seems this film is much more emotional for Rocky since it allows him to release a lot of his pent up frustrations/emotions that have been eating away at him. Imagine having your wife & best friends all pass before you and your desires repressed for years... inside Rock must be full of turmoil.
I am not hoping for a storybook ending, but if Rock can go the distance I for one will be quite happy.