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AFAIK both PAL and NTSC use the same equations for generating Y, R-Y and B-Y
Y= 0.299R+0.587G+0.114B.
R-Y and B-Y then follow.
HD uses a different equation which is annoying. It's supposed to give a greater gamut.
The question of the masking matrix used in the camera is to get the colours to look right. Camera designers use a range of tricks such as detail out of green to get good pictures.
The BBC has done quite a bit of work on standardising the reproduction on LCD, Plasma etc which have totally different colour rendering to a CRT. It's hard to do accurate HD monitoring on a flat panel because on most of them the colours are all over the place. I think there are some decent flat panels now but the "gold standard" reference is still a CRT. Strictly not just any old CRT but one with phosphors of the correct chromaticities, or possibly a masking matrix in the monitor to correct them. THough this latter approach cannot give full gamut it's usually close enough.
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