I have to second Moth3r's suggestion of averaging out multiple captures, it is the only way to reduce analogue noise without adversely affecting the image you are trying to preserve, keep in mind that this is one of the factors that makes the X0 player so good, except in that case it is done internally averaging the result from 5 separate NTSC decoders, I would suggest doing 5 captures of each side of the disc (preferably using a lossless codec) and averaging out the results before any other filtering/resizing. Obviously this will take a lot of time and hard drive space but it should be worth it.
If you do a test for the averaging be sure to boost the saturation as this should really highlight the noise as shown by the X0 guys here
also does the V800 allow you to get a composite output before separation to s-video?