I connect to a remote computer using mstsc on a slow connection. Now I have set the settings in the experience tab to the lowest. I was wondering if reducing the color depth will improve my experience any further
Yes it will. If you go from 16 bit (65535 or thousands) color to 8 bit (256 or hundreds) color, that halves the amount of data that terminal services needs to transmit in the image. Eight bit color does look pretty bad.