Yes, that looks better. You still lose out on some of the vibrancy, there is a luminant quality to the way the films looked, but it's pretty hard to recreate that using such an old and washed out video transfer.

Going back over my caps, I found that a more accurate reproduction, probably close to your levels there, is to shift it cyan a few points and then reduce the saturation by 5-10% based on the shot; it tends to make the skintones more neutral and takes the saturation "edge" off, probably not far from the example above.