You're pretty much talking about having your cake and eating it too, as far as my understanding goes. Saturating an image automatically causes loss of contrast because the "vibrant" effect it produces is accomplished by selectively emphasizing the weaker colors in the image more than the stronger ones.
When using saturation, also be sure to do various case studies with your particular monitor as some monitors (notably VA-type LCD panels) are able to handle more saturation than others without significant loss of contrast data. If stuff is bleeding together too much, you're oversaturating the image.
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