What I'd like to see is this exact analysis done to the S III, even just to have some no bullshit data when the 'my phone is better than your phone' comes up again.
Talking purely from a consumer perspective, you want to argue that one phone reproduces accurately the full RGB spectrum and another blows it out of proportion and that makes one phone better? Isn't that a matter of subjective taste? How does that make one phone better than another? For eg. I may like to turn the color all the way up on my TV. That doesn't mean my TV's picture is objectively bad or the other way around.
From my perspective, the issue with selling a phone that is over-saturated versus one that is accurate is that in one case a company is just shipping something that meets the standard, and in another case they are making that subjective choice about what looks better for you.
With monitors and displays this isn't as big of a deal, as you can adjust it yourself to what you want, but with smartphones and tablets there are few or no adjustments available so if you receive a display that is purposely over-saturated, you are stuck with that. Perhaps it catches eyeballs in the store and gets you more sales, but it also means you are stuck with it. If a company isn't going to provide a way to adjust the display (such as including presets that are calibrated, vivid, and so on) then I'd prefer they just ship something that tries to conform to the standards that exist (sRGB or AdobeRGB in these cases).
Color accuracy is certainly not the defining aspect for the usability of a product, but it is a way better aspect than something like clock speed - which is something almost every manufacturer feels required to mention when they compare their phone to Apple's newest incarnation.
