1. A system for displaying a composite magnetic resonance (MR) image of a patient wherein a magnitude MR image and a phase MR image are combined into a composite colored display image that simultaneously visualizes both magnitude and phase information without loss of magnitude or phase image information, said system comprising: a memory configured to store a magnitude MR image and a phase MR image having pixel values based on complex-valued MR image data corresponding to nuclear magnetic resonance (NMR) signals received in response to a radio frequency (RF) and magnetic gradient pulse sequence applied to the patient during a magnetic resonance imaging (MRI) scan; and at least one digital data processor system configured to access said memory and: change pixel values of the magnitude MR image to represent a first display color; change pixel values of the phase MR image to represent a second display color, different than said first display color; and generate and display a composite display image of the magnitude and phase MR images by generating and displaying composite display image pixel values representing a combination of said first and second display colors wherein the magnitude MR image and the phase MR image are combined into a composite colored display image that simultaneously visualizes both magnitude and phase information without loss of magnitude or phase image information present in the magnitude MR image and the phase MR image.