It looks awesome.
I much prefer the grain version. The denoised version, to me, looks like it’s not quite in focus.
As to using x265… while I agree it is the way of the future, currently playback is problematic for many people including myself. Even though file sizes would be larger using x264 (for equivalent quality) x264 gives most people buttery smooth playback even at a high bitrate. I vote for x264.
Thanks for all your work on this.