I should have read your post entirely. You can't achieve denoising with MVcompensate mode 2 and intra block. The all thing behind MVDenoise is to make the strongest possible temporal denoising. MVCompensate only takes the noise from one frame to another.
If you want strong denoising, use MVdenoise, with 4 or 6 mvstreams, all deblocked through Deblock(quant = 30), and with high sad / mv / temporal threshold for MVDenoise.
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