Right about that! I've flown on several Delta 727s this past year and have noticed the difference in cabin decor... some of the older aircraft still have the 70's decor; and as the 72s go through their new paint update, they (usually) get the new interior as well. (for those rabid airline trivia buffs, Delta owns and flies the 1000th 727 and 737 off the Boeing assembly line).
On the other hand, I've seen some Delta aircraft exterior paint (on the old colors) looking pretty shabby, giving rise to another contrived acronym for Delta: "Dirty Exteriors Lack Travelers' Approval."