This ad, which has been running on digg, seems like a particularly egregious example of false advertising. Of course, if anyone would challenge the company in court they could say, "we never actually claimed our product could make an old lady look like a young model. That picture, as the disclaimer indicates, is merely simulated imagery."
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"Less wrinkly" is also acceptable, but "less wrinklated", "less wrinklations" or even "fewer wrinklations" is right out!