There are two things at play here.
One is channel misalignment on the IB Tech prints, this is common on IB prints, and you can check against the non-IB prints to see what is channel alignment and what is not.
Two is chromatic abberation, this is visible on all prints in certain areas, epecially starfields, particuarly at the edges of frame, i.e. there was more CA as you got away from the centre of the lens.
Getting back to the negative is an interesting goal for preservation, for restoration, not necessarily. There is plenty of visible stuff on the neg that never would have made it to a release print, and some detail on the prints that certainly would have been invisible when projected.
Restoration is tricky, remastering is easier as far as decision making goes.
There definitely would have been presentations in 1977 where the garbage mattes would have been invisible or barely visible - there would have been others where they stuck out like a sore thumb.
Mike’s project is clearly a remastering, and would result in a viewing experience of Star Wars which is probably how most people would ‘remember’ seeing it, and would be easier to immerse yourself in the film, without the glitchier bits pulling you out of it. That is something I would love to see.
I’d also love to see a full ‘restoration’. However, a restoration, well, that is another thing altogether, and you will probably never get two people anywhere to fully agree, not just about what is kept and what is not, but even to what degree… Just how visible do you make those garbage mattes…