Well if they wanted to...Simitar (or any release for that matter) could have gone the extra mile and remastered the film! Here is the same Simitar capture from above, but I just took photoshop and selected various areas and adjusted the levels, hues, saturations, contrast, brightness, and color balance.
What was scary, is that this film transfer is soo bad, that when using Photoshop's auto levels feature, the screenshot was almost black and white! (Although that made it easier to colorize each section invidually) I can't believe the difference. Sure it's still not Toho quality, and it's a bit rough around Godzilla, but I tried to also recitify the darkness around the edges of the film, when I fixed the colors it really stood out. All I did was take the heal tool and patch up those colors with the ones of the brighter part of the sky. I tried to patch up Godzilla's edges with the clone stamper though.
BTW: If this only took me 10 minutes....Jeez, most companies here, must be LAZY!