Depth of Field (Far) - Subtle blurring to hide distance pop ins and add a more cinematic effect.
Ambient Occlusion - is a shading and rendering technique used to calculate how exposed each point in a scene is to ambient lighting (Wikipedia). Drastically enhances the game world and separates many of the smaller details from the otherwise basic lit world.
SMAA - A form of anti aliasing without the intense FXAA blur.
MagicBloom - A low cost form of Bloom, with more modern techniques. Fine tuned to work with the HDR to give bright light sources a nice glow.
LumaSharpen - Best method to work with engines limited information. Subtle to bring textures out, but not intense to cause artefacts.
HDR - FakeHDR (as Reshade calls it) attempts to mimic the expected way HDR would work by separating the Bright spots from the Dark to a more natural way our eyes would see in these situations.
EyeAdaption (Only Brighten) - I love using this effect and is one of the newest to Reshade. In short, it mimics our eyes by adapting to light. I have this specifically set up so when it hits nighttime and the lighting changes, it will subtly adjust the image brighter in otherwise too dark spots. *Going to the park at nighttime is a good spot due to 1 light present.

And my usual colour adjusters to make the game more natural and inline with the original Dream cast colour scheme - Vibrance for colours, Curves for contrast and lighting balance with HDR/Ambient Occlusion.

For sample comparisons and raw file see - https://sfx.thelazy.net/games/preset/9632/

Version 1 Link - https://www.dropbox.com/sh/uuinc8tejcx021w/AADhdpG_NykNhMAEBTsa0LIea?dl=0

Go to https://reshade.me/ and install latest version. Follow instructions and select DX10+ then No to downloading new shaders.

Drop the files into the same folder you installed Reshade to Shenmue 1 (includes needed shaders).

Ingame turn off FXAA and Bloom.

I have a professional level, calibrated setup to CIE D65k, 120cd/m, RGB Profile. In simpler terms, Industry standard with matching colour accuracy.
Also when I build a Reshade I specifically aim to enhance or add to the original intended style, never to change it!

IF this is too dark/bright for you, you should only have to adjust the Curves up or down as needed.
You will also have to toggle off the effects for menus and arcade games with Insert.

Please do not spam comments, feedback are always welcomed.

*I will also be updating this regularly so please check. I am hoping to get the DOF to turn off when UI is detected, but so far no luck.