Now that we have 4k77, with reel-level correction, isn’t this all moot?
Not really. The 4K77 is great, but they didn’t sit and watch a projected print and then grade to match that print. The grade on 4K77 is somewhat arbitrary, but probably closer than anything else currently out there to how the film was.
As mentioned, this project is something different altogether. It is a recreation of a UK TV broadcast colouring.