Earlier quoted context omitted.
> "I think back to Technicolor films and how crappy they looked at the time" Technicolor films looked fantastic when they were first released. There are a lot of bad transfers that have been done since, but three-strip technicolor (the kind used on the Wizard of Oz, where you shoot using three separate film strips) had incredible saturation. There were other, considerably less expensive alternatives that you might be…
It's actually Wizard of Oz I had in mind when I was saying that. I appreciate for its time it was a huge advance, but I always thought it looked considerably less beautiful than black and white films of the same era, but perhaps this was as much because people didn't really understand how to use colour properly then as much as the technology itself. Anyway, thanks for the info :) I consider myself enlightened.
3-strip Technicolor, by its own nature, tends to oversaturate colors as well.
These two facts help explain the garish colors seen in The Wizard of Oz and other 3-strip Technicolor films of the era.
With that being said, I find The Wizard of Oz (and most other 3-strip Technicolor films) to be indescribably beautiful.