Attractive correlation system performance potential is possible using magneto-optic spatial light modulators (SLM) to implement binary phase-only reference filters at high rates, provided the correlation performance of such reduced-information-content filters is adequate for the application. In the case studied here, the desired filter impulse response is a rectangular shape, which cannot be achieved with the usual binary phase-only filter formulation. The correlation application problem is described and techniques for synthesizing improved filter impulse response are considered. A compromise solution involves the cascading of a fixed amplitude-only weighting mask with the binary phase-only SLM. Based on simulations presented, this approach provides improved impulse responses and good correlation performance, while retaining the critical feature of real-time variations of the size, shape, and orientation of the rectangle by electronic programming of the phase pattern in the SLM. Simulations indicate that, for at least one very challenging input scene clutter situation, these filters provide higher correlation signal-to-noise than does "ideal" correlation, i.e. using a perfect rectangle filter response.