From this it actually looks like 50% of your investments in an annuity using historical simulation gives the best overall results. I personally couldn’t give up that much control, but the initial look is promising enough that I might consider a smaller percentage into annuities.

Yeah, there's the rub. I'd call a $1,000,000 portfolio at 85 solidly in the middle area. More than not enough and less than "have plenty". Perhaps that could arguably make sense. But how many people are going to willingly give an insurance company half of that?

Schwab annuity quote for joint 85 couple is $4,843/mo for $500,000.

If their portfolio was $3,000,000, would people put 17% ($500k) into an annuity. Maybe that's a small enough portion.

Or....
Put the $3M into Treasuries yielding average 4% and take the same $4,843/mo.
after 15 years, age 100, the $3M has grown to $4,265,000.

Even...
$2M into Treasuries and it is still the same ($2,033,000) after 15 years.

So, above about $2M you don't really benefit with the annuity. You still have all your money and you didn't give $500,000 to an insurance company.

Easy to set up with Fidelity or Vanguard, set up once and they do it all automatically thereafter. Roll the Treasuries and send monthly withdrawals.

I am not 85, a bit younger. Every once in a while ever since 65 I look at annuities and MYGA's because they sound perhaps interesting.
And every time I run the numbers and say "Nah, bro."