The alien in the "Santilli footage" looks like a silicone Hollywood FX product. They put a lot of work into it.

The grayscale in the film is all wrong for vintage B&W film.

They HAD good color film back then and would have used that not B&W. They probably would have also used tripods not handhelds.

The fake B&W and moving camera is probably to help cover up the fact it's fake.

FAKE!