Dan, it was mostly sound of the projector running.
The audio for the film I was running was turned way down. I was transferring some going my way shows for Mary. I generally do not listen to the audio while doing transfers as it gets to be annoying with all the background noise, and there is a slight lag so the voices do not quite match the lip movement.
Things can be done to adjust colors in faded prints. It has the option of manual or auto white balance...There are RED and BLUE knobs that can increase or decrease color spectrum and the power to the bulb can be turned down lowering the temp in turn cutting some red out. Will it make things look low fade again...not IMHO it won't unless maybe it is a SP print which has very little fade to start with. I can say for a fact that I have run a little bit of faded film and played with the controls enough to where I have seen colors in my monitor that I never saw on the screen.
I have a ton of faded Death Valley Days. NEVER do they come up for sale on low fade stocks so I took what I could get. I think the best thing to do for me is to pull the video C plug, make a slight change in the mini-DV deck, and record them B&W. Since they are all old western shows set back in the 1800's, B&W would not be a big deal for me.
side note: I'm also kicking around the idea of getting an anaglyph creating program to make 3-d B&W versions of the shows.