Honestly, truly red blood really isn't realistic, especially for a stomach wound, which actually bleeds close to black.
To be accurate in many of the shooting, stabbing and other mayhem scenes, it should be more of a rust color, not bright red. For the most part, it's mostly wounds to the extremities that bleed red since they're away from other organs and tissues that can pollute the blood as it exits the body. In the case of head wounds, a smack to the head with an object should result in reasonably red blood while a wound that opens the skull (like a bullet wound) should be much darker.
I actually find those 70's movies somewhat laughable when they show bright red blood. It looks terrible.
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