There's surely not too much wrong with the old oil. It was being used to lubricate the engine 5 minutes before you drained it!
I bet if someone mixed 10% or so drained oil with the new oil and had a VOA done it would look pretty much the same as the VOA on an uncontaminated oil.
Maybe, maybe not. I would think that the answer to that question depends largely upon three variables. First, what is the total oil volume; second, what is the retained oil volume; and third, what is the condition of the retained old oil.
Absent a specific analysis of these three factors, such generalizations are fairly meaningless. Can we agree that there'd be a difference between the outcomes of one car that has a total capacity of six quarts, retains two old quarts, and had not had a change in 20k miles; and a car that has a total capacity of six quarts, retains 0.5 qts, and had a change 3k miles ago?????