Finished the first capture of reel 1. It looks really nice, pretty much all the way through. I don't think I'll need to do another complete capture, just a couple of isolated spots.
There is a slight reddenning at the top 1/4 of the screen. It is most noticeable during the crawl, because the yellow letters gradually fade to orange as they move up. It's as if the film sat for a while with one side warmer than the other. It should be pretty easy to fix in post.
p.s. - as an aside, I did a high bitrate encoding of reel 1 of PG and will compare tomorrow morning to see if a DVD9 of that would be worthwhile.