Keep in mind, bulb matching is a thing. This is a great way to get the color on the print, but the color on the screen is the color on the print combined with whatever color bias the projector bulb has. So for a seventies bulb, we’re probably talking a little yellower. Not to diminish the importance of this in any way–this will be extraordinarily helpful, but maybe not the final word.
From what I understand, this could relatively easily be incorporated into DrDre’s algorithm. You would need to describe the light used to scan a particular print and the light emitted by a bulb what was in common use when said print had its run in theaters. Of course the accuracy of the final result would depend on how accurate data you fed to the algorithm.
It’s not that it can’t be done, but then you lose the “objectivity” which is part of the draw of DrDre’s method. Choosing the bulb LUT is both subjective (which bulb to choose?) and prone to error. I like what he’s doing, but I see this as more of an initial color correction than a final one, which is really where my comment was headed. You need the objective color correction as a base correction – in fact it’s critical for it to be as objective as possible, and this seems to be doing that – but that doesn’t eliminate the need for subjective corrections afterward.