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Wow, the colors are just gutted in the mp4 version.

Yeap, YV12 colourspace doesn't really like sharp pixel-perfect colours.

h.264 streams support 4:4:4 via through the Hi444PP, but I think hardware decoder support for that is non-existent.

Right, this brings up another point: what H.264 profiles are allowed for gifv? I can't find an answer.