While waiting for posting privileges on the madVR forum due to a bizarre and useless forum policy (sigh)...
I recently demonstrated this problem to someone else who was quite shocked because they assumed the problem would be subtle (as the profiles supplied by madVR are all very similar standards and none are wide gamut).
For future reference, I am adding some screen captures to show how far the mark is being missed when playing Region 2 NTSC DVDs with JRiver Media Center (and other media players). I expect the problem is even worse for R1, as, from all appearances, the US distributers for Japanese titles are not converting profiles as expected, but merely re-encoding unconverted video with the US profile (although no player could be expected to cope with that). I suspect many users are just assuming that old anime titles look faded because they are "old"!
(These screen captures are understated, due to conversion to sRGB for web display).
Incorrectly displayed as SMPTE-C in JRiver Media Center (on an sRGB monitor the result actually has lower colour saturation than it would have had if no colour management was applied)...
http://1drv.ms/13epyiYWhat it should look like when correctly displayed...
http://1drv.ms/103quV8