I finally got my ANH GOUT in the mail yesterday, and I saved out two small pieces of it so that I can "dye-transfer" the SE version. I read people on forums say that the GOUT looked kinda bad, but I always thought the screengrabs looked fair enough - but I was really surprised when I watched it in motion today!
I first noticed the wobble that I thought to be impossible:

Whole parts of the image are shaking completely independent of other parts - like some crazy jellovision technology! I guess this must be because this version has applied a noise-suppression-averaging algorithm to the film - before stabilizing the thing. The result is that the bright parts are wobbling about, while the darker parts stays somewhat calm... I take back what I said about the tracking, Laserman. This wobble calls for desperate measures indeed.
And then it seems like the film is interpolated or upscaled in some weird way:

Look at the bright edge on Vaders chest armour, and the bright edge on his right (to the viewer) chin. It's almost like the film has been de-interlaced of sorts? Is this something that is PAL-only, or is this present in the NTSC version as well?
I will try to do the colour-transfer the next time I have a session here at home, but I doubt it will end up like much with the GOUT looking like this...
THX, here are some shots where I haven't retained the black at the SE levels. As you see, there's almost nothing to gain, with the areas ending up with a flat grey instead. It's especially apparent in Greedos face:

Rune