To be honest, both look beautiful. If it’s not bothering you, you should probably stick with the “Before” setting.
The main reason I’m saying that is because the transitions between the lit phosphor, Magic Glow and Base (black) Mask look more seamless and gradual than the “After”, which has a sharper drop-off now due to the larger difference in brightness between the Magic Glow’s “tail” and the Base (black) Mask.
To make the second one look better, you’d probably have to go back and recalibrate Magic Glow and it may not really be worth it or end up looking better after all the effort.
The “After” does seem closer to the photo though but I know how photos sometimes don’t tell the whole story.
So, the first one looks more “Analog” to me and it brings me back to some memories from a few years ago when I longed for such a feature because I always felt and noticed that the glow from the phosphors tapered out gradually and I strongly disliked the white/grey cloudy halo type of glow we had before Magic Glow brought RGB phosphor glow, because that’s the language CRT’s speak in - “RGB Phosphor Glow”.
On another note. One thing that separates CRT Royale from other shaders is the dirt on the phosphor tiles. How about trying to simulate that by using a very subtle layer of static high resolution noise?