LOL! I prefer the Bubba Ho Tep mythology: Elvis got tired of the "rat race" & hired Elvis impersonator Sebastion Hoff to trade places. Elvis continued to perform- but as Hoff, not himself.
Meanwhile, Hoff becomes Elvis, gives in to excess & dies. Elvis continues to be Hoff (the document that proves the switch took place is destroyed in a fire, btw) but then breaks his hip while performing. "Hoff" is dumped in a nursing home- where no one believes he's really Elvis.
Great movie. Bruce Campbell is God.
Edited to Add (hereby known as ETA): Thanks! I'm glad you like the pic. It's from Elvis' official website. Actually, it might be a screen capture from a screensaver I downloaded there. Don't remember . Thankyou. Thankyouverymuch.