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FWIW, something I deal with along these lines:
Sometimes it is helpful if not crucial to consider exactly which "layer" is being denoised, and also motion-compensated.
For example, I am converting old film to digital. The following "layers" exist in my workflow:
- Original real-world scene: may have had moving people or background (eg shot from a train)
- Original film camera: used grainy film, each frame might have moved slightly w/ respect to others - shows as motion relative to sprocket holes
- Playback projector: film frame positioning in gate can vary slightly - shows as sprocket hole motion but also moves the image in the frame
(Playback-time dust also can be thought of as additional "noise")
- Capture camera: sensor has ISO-based noise, and camera can vibrate, introducing a fourth motion - shows as motion of gate-edge, sprocket, and image in frame
So for me, I have four potential motion sources, and two or three sources of noise!
Practically-speaking:
* As long as the motion compensation is NOT doing variable-zoom resizing, I find it best to "deshake" all the way to the original scene, before denoising. This enables the temporal aspect to do the best job possible, because static features in the original image can be fully aligned.
* One implication: I fully crop the image before deshake. I'm NOT just trying to align the captured frames w/ one another.
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