Ok, with the blessing of DJ, here's a little update/teaser for you guys.
Me and DJ decided to work on this together, and during the time his computer has been broken I wrote a new script from scratch, which I've worked with a lot lately.
What V2 will most likely feature is a color corrected, carefully upscaled, slightly shake-stabilized, slightly anti-aliased, dirt-cleaned and grain-preserved GOUT. I've spent many hours on perfecting the dirt-cleaning part of the script, which removes a lot of dirt in all three films but preserves all detail. Still needs some more testing though.
In the style of Harmy's earlier comparison, here's a new one:
Before someone judges this as "edge-enhanced", compare it to the raw GOUT upscale on top, and know that detail has been dug up carefully on grain-level. Also keep in mind that the script may not be final.