If you do nothing with the picture except play around and select the modes you like best, you can enjoy good, but not calibrated color. For this projector, though, post-calibration, the projector performs even better, calibrating nicely. Impressive skin tones combine with the competent black level performance on movies, etc. thanks to Dynamic Black, by taking advantage of laser dimming to behave like a Dynamic Iris, (thanks to the updated firmware).
The laser engine offers another benefit. Laser engines have inherently a wider color gamut than lamps. So you end up handling REC709 easily, instead of coming up a bit short with lamps.
My only regret, due to issues with the, first unit, is that although HDR works with every mode, Eric didn’t try to calibrate the color to P3/BT.2020, instead of the smaller REC709 space. This is a projector that should be able to get close to P3, thus providing broader color space for even better, richer colors when in 4K and the content supports BT.2020.
So, I can’t tell you how good that is, it should be superior to any of the lamp based 4K UHD DLP projectors. Most of the other lasers (again, because long term, they are probably bigger sellers for business/education than home theater), aren’t supporting P3/BT.2020, such as the Dell S718QL.