I agree with you in many respects, Funky Days. I have the Evil Dead Blu-Ray and enjoy it immensely. It makes all other transfers look awful despite its graininess. The film grain gives it character, and it just enhances the ED experience. I now watch it more than ever. Some people talked about it having DVNR, but my eyes couldn't detect it. It's so vastly superior to the ED II transfer which is completely wax-works. Oh and gits and shiggles LOL.
As for this Blu-Ray project, I remain neutral. The grain gives it mood and character. The grainy desert... Anyway, I don't mind grain all that much. If you choose to wipe out the grain, I'll be fine with that too. If the samples are any indication, I have no problem with the amount of grain-reducer you use.