In this paper, we make an investigation on the summean-square-error (sum-MSE) performance gain achieved by DFT-based least-square (LS) channel estimator over frequencydomain LS one in full-duplex OFDM system in the presence of colored interference and noise. The closed-form expression of the sum-MSE performance gain is given. Its simple upper and lower bounds are derived by using inequalities of matrix eigen-values. By simulation and analysis, the upper lower bound is shown to be close to the exact value of MSE gain as the ratio of the number N of total subcarriers to the cyclic prefix length L grows and the correlation factor of colored interference increases. More importantly, we also find that the MSE gain varies from one to N/L as the correlation among colored interferences decreases gradually. According to theoretical analysis, we also find the MSE gain has very simple forms in two extreme scenarios. In the first extreme case that the colored interferences over all subchannels are fully correlated, i.e., their covariance matrix is a matrix of allones, the sum-MSE gain reduces to 1. In other words, there is no performance gain. In the second extreme case that the coloredinterference covariance matrix is an identity matrix, i.e, they are mutually independent, the achievable sum-MSE performance gain is N/L. A large ratio N/L will achieve a significant sum-MSE gain.