As creative as Baker's makeup is, Pierce's makeup - especially in THE WOLF MAN - allowed you to very plainly recognize Chaney as the monster.
I'm a little surprised by this statement. Except for his eyes, Chaney's face was almost completely covered. True, Chaney did have very distinctive eyes so he shines through more than some people would, but if Pierce was actually trying to hide him completely I don't think he could have done much more.