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Anything short of the best treatment possible is pretty much inexcusible, isn't it?
I mean, Paramount spent quite a bit of money (more than a million dollars, I think) restoring The Godfather movies at Spielberg's behest, and the go-to authority on these things, Robert A. Harris, was consulted.
When we consider the fact that the first Star Wars alone made over a billion dollars after inflation, by that measure the second highest grossing movie of all time after Gone With the Wind, "close enough" of a restoration job certainly doesn't cut it.
Lucasfilm is under a larger corporate umbrella now, just like Paramount. I would like to think Disney doesn't see money as an object when it comes to proper preservation of these films.