I think it would have to be SDR but to me, that’s not really a problem - the colours of 44rh1n’s version are just lovely, so if we could get the best of both worlds - the detail of the UHD or rather EE BD version with the colours of the theatrical BD or EE DVD, I would be perfectly happy.
Although I have not seen the full thing as previously stated the Balrog fight seems to be an improvement and if you watch that video again seems it has been tweaked when the Balrog hits gandalf magic shield… the bit where they take and paddle the Elven boats also seems a better color too in 4K version but would assume this would not include the dreamlike conversations and gift giving on the shore as all these seem to have lost the bloom effect.
There might be a few more that sit better?..
Did they fix the music cue in the dagorland prologue yet?
What I think I am trying to say is you could go full on preservation which I also think should be mostly the case but you could also make a slightly tweaked version that has small differences based on clearly better or superior choices.
I get the argument of superior based on somones opinion might not ring true, but is there anymore to appreciate from this release other than pixel detail?
Wait for Blu ray next year…