When you’re color-correcting, usually you’re aiming at some sort of reference. So if you agree with the target, you generally agree with the correction aiming at that target.

Not sure what the thinking for each version was exactly, but I believe 1.3 targets previous home video releases. So if you’re trying to rekindle the glory days of Star Wars on home video, that’ll scratch that itch.

I believe from what others have said here that 1.4 targets low-fade prints. Those collector’s prints that have better colors than home video (more so for Jedi, Star Wars and Empire prints faded like crazy). So if you’re targeting what a rare private 35mm showing may have seen decades after the film originally screened, 1.4 is for you.

1.6 uses color theory, math, and a little subjective fine-tuning to approximate what an opening day print may have looked like. Not low-fade, but no-fade, but you have to trust that the math works. If you’re targeting a 1983 theatrical showing, 1.6 is for you. The flat colors were a subjective attempt to re-create what some believed were Jedi’s theatrical appearance, but it’s that part I don’t like much.

I’ve hated the colors of Star Wars on home video since before there were special editions to hate, so that’s why 1.3 leaves me cold. I prefer 1.6, then Despecialized, then 1.4, and 1.3 isn’t even in the running. None are perfect. But color isn’t everything – I usually opt for Despecialized anyway for the extra fine detail, but again, different priorities will yield different preferred versions.