Communication when writing about numbers is hard, but I will try again. As you defer SS, you are "buying" some additional inflation adjusted annuity. In your comparison, you spent down a mix of stocks and bonds to allow the deferral. Then at age 70, you have the extra annuity (which behaves like bonds - especially TIPS) plus the remainder of your stock/bond mix. That is clearly a more bond-like portfolio than one where kept all your stocks and claimed at 62. So it's no surprise that from that set-up, the portfolio where you retained all you stocks looks pretty good.
A better comparison is to spend down bonds (a better comparison is to TIPS) during the bridge to SS, so that when SS kicks in, you have your original amount of stocks and SS has replaced some of your bonds.
Where do I say I'm even thinking of claiming at 62?
Again. I don't own any bonds!
From the Open Social Security site:
Alternatively, you can think of the analysis as, “what part of my portfolio would I spend down in order to delay Social Security? And what would be the rate of return that I’d be giving up by no longer having those assets in my portfolio?”
For most people, the relevant rate of return is the expected return on the bond portion of their portfolio. The primary exception would be the household that has a 100%-stock allocation and wants to take on even more risk.