Well, that's possible, but Ross originally didn't want everyone (at least not the public) to know that he's read Hulk, right? So why make his form resemble him so much that people know who he is right off the bat? Also, his transformation may pull from his psyche in that he would want to be in his prime inside and out.
I gotta admit you have a great point. At the time it just seemed gimmicky and felt like a visual ploy to get the attention of people who haven't followed the story. But I guess that is part of the point now isn't it?
Now, THIS is perfect! He should totally looked like that instead! The lack of 'stache is just because Loeb totally improvised who the Red Hulk was. (with so many red earring even he didn't knew what the solution to his mess of a plot was XD)