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I guess it depends on what our purpose is, our intended audience and what standard we are trying to attain.
In my experience, top quality rereleases are usually already well produced and very little needs to be done to improve them, if it were possible. Where there are faults, what we can do to "restore" consumer release formats like DVD is often very limited because many basic weaknesses are already locked in and cant much be undone.
Top film companies across the world can have access to (at best) original camera negatives and these days fantastic film repairing, cleaning, scanning equipment and just as important, know-how to finally present these old films in ways that are very impressive. We consumers cant hope to compete with that.
Looking at your original alongside the processed, I see a mild horizontal stretching of the picture, losing some of the left and right frame information, and a general shifting of the color balance to a more blue or magenta- ish tone. I also see some changes to brightness. Some people prefer a warmer tone, others cooler. Then there is how the Director intended their film to look for audiences across the world. Are your changes an improvement? Hard to say.
Best wishes,
Tim
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