DrDre said:

Here are a few more iconic frames from the film adjusted by the model to match 16 mm colors:

Definitely an improvement, if a bit yellow for my taste. The problem is that the blu-ray cannot be completely adjusted because the color is not just altered but there seems to be an actual filter applied, which has obliterated some of the color and detail. Add to that overexposed shots which have blown out detail (the one of Toht melting above is a perfect example) and you can never fix the blu-ray. That blown out detail and color cannot be recovered and corrected. On top of that, shots which were overexposed then had highlights dialed down in an attempt to fix the overexposure, resulting in a dulled look which lacks vibrancy and detail. Hard to believe anyone ever approved that release. Even with your color correction, the shots above look dull and flat and that can't be fixed.

The Wowow is the only viable HD option available at the moment. And even that has some blown out shots, but to a much lesser degree and without tampering with the highlights.