We examine the consequences of permanent phase distortions on the repl
ay of transmission volume holograms with a phase-conjugated reference
wave. In the absence of Bragg degeneracies and significant Bragg misma
tch, for negligible dispersion in the spatial frequency response and f
or negligible variation in obliquity, phase-conjugated reference waves
compensate for the effects of phase distortions and permit cross-talk
-free multiplexing by using orthogonal reference waves. Spatial freque
ncy dispersion, however, is a source of image distortion and cross tal
k.