Importance of color correction

[mean]

REC with limited range (16-235), Without correction
You'll note the image is washed out on a PC if the player is not aware of the colorspace
The 2 markers on the histogram are at 16 and 235

[mean]

Same with mpeg2->PC
(which actually is BT change of colorspace, REC709 vs the other one)

[mean]

To spot this, take an image with dark black and light white, credits at the end are perfect for this
Look at the histogram, if you see 2 huge spikes where the 2 small markers are, bingo