I like live musical accompaniment because that's How It Was Done In The Day. Canned soundtracks are okay too, as long as they're tasteful.

I've only seen two well-known, long-form silents - Metropolis and Battleship Potemkin (both with live performance of the original scores in at least one instance). So I'm really not qualified to opine on what other films should be restored! And I didn't even know about early experiments in color - I thought all colorized classic films were the fault of Ted Turner. :)