Hi Puggo,
I'd first like to say thanks for preserving these films so that they are available to all of us.
I noticed while reading this thread that you are looking for a better way to auto-align the frames from several of your reel captures.
I know of an avisynth script that should do a better job of auto-alignment than photoshop or vegas. I've never used the vegas method but from what you are describing it's not that great.
If you are interested just let me know what resolution your captures are and I can edit the script to fit the resolution and then post it here in this thread for you.