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I read the image as the older man is pointing out the past, which is now sepia, as they are walking into the future, the color part of the image. So it still reads fine to me if as they leave the past they are solid and not fading. Did you try bringing back his arm and hand, pants, etc? There may be a magic point where its not 100% opacity, but 80-90% gives it just that slight softening without showing the floor behind the pants, etc. As you play with the masking I think you will know the right effect when you see it. Right now I don't understand why his hand disappears or why I can see the floor through his pants, but perhaps you have a different story running than I do.