Old article - quite wrong (7)
I believe the answer is:
antique
'old' is the definition.
(similar in meaning)
'article quite wrong' is the wordplay.
'article' becomes 'an' (indefinite article).
'wrong' is an anagram indicator.
'quite' is an anagram of 'tique'.
'an'+'tique'='ANTIQUE'
(Other definitions for antique that I've seen before include "Venerably old" , "Lovely old piece" , "Valuable old object" , "Object from the past sought by collectors" , "Veteran" .)