OK, well through looking and looking and being frustrated with the apparent fade, I have found a solution.
System Preferences > Displays > Color >
At this point, hold down the OPTION key and then press the Calibrate button. There is also a little check box that I saw that was now visible and already checked. The system will take you through 5 or more steps to help you calibrate how you see your screen with guidance as you go along. At the end, you will then save your custom calibration as its own unique name like "Mike's iMac Calibration"
Don't worry, it will always save the default Apple settings so you can go back to them if you'd up being too far off. After you have your new settings, you can click between all of the preconfigured settings and yours and see where you ended up.
My results show that my screen isn't defective or worn out, it just needed to be adjusted.
