Mark-P
Senior HTF Member
Technically, I don't think you can actually call it the Ultra-Resolution process since that only applies to films photographed in the 3-strip Technicolor process. Separation masters are made using filters to extract out the 3 primary colors from the original print (or negative) and are therefore a generation away from the original print. Ultra-Resolution scans the 3-strip original camera elements and digitally combines them.
However, using separation masters for restoration purposes can have very good results in achieving the original colors. Walt Disney's Pollyanna is an example of a film that was restored using the separation masters. The "vault Disney" 2-disc edition has a short documentary showing how the film was restored and also shows how the technician screwed up the separations of one reel in 1960 by making 2 blue records and no green record, but the restoration artists found a way around this by going back to the original negative and re-extracting the green record which had not faded and combined it with the other two records with very satisfactory results.