friedcamera said:

I’ve been trying to color correct some of the clips using the open matte DVD as a reference.

Reel 7 Clip: https://we.tl/Vf3yTnMhfR

I used the LUT from this scene and then used it for another reel, made a few tweaks, and got this result:

Before and after:
http://screenshotcomparison.com/comparison/199191

When the LUT is applied to most of the other clips, the colors can get pretty close to the DVD. It’s far from perfect but it’s a start.

I have one important question. I’d like to understand one thing. As we can see, the picture shows the optical soundtrack but why those two bars?

For example, in Becky Sharp (1935) I only see one bar:

So, original 1980 mono soundtrack must be 1.0 or 2.0?