I think Mike Verta is using grain reduction in that video. He showed in some video that he was combining prints together to achieve this. For instance if you have a static shot of something that is really grainy and combine multiple frames over time together aka blending you will take the grain out of the shot completely. This effect essentially negates the grain.

I like the Blade Runner comparison Harmy made. I like that Bluray set. I’ve seen so many versions of that film over the years that no one version is the correct one in my mind. (I don’t like to think of Harrison Ford as a replicant though.) So I like watching the official Blurays and then Harmy’s and now this. I think a “perfect version” will be something middle of the road. Harmy had a nice example above. I think reducing the grain and punching up the image a touch will be nice.

Disney should just take all the different versions online and sell a Bluray set with Fox and get everyone to chip in for extras.

I’m looking forward to 70mm Rogue One!