After taking another look at my TT Blu-ray and the Beaver caps, it seems to me like the noise in the former has now become very fine, convincing looking grain in the latter. For the record, according to MichealB (freelancer for Arrow), both James White (restoration) and David Mackenzie (encoding) have confirmed no DNR was used (barring removal of small damage obviously). As for the reliability of caps, especially ones from Beaver, for the most part it's the case they make discs look *worse* than they actually are, rarely better. If the grain on display in the caps looks somehow worse on the actual disc, I'll eat my hat.
That's not to disparage the TT disc of course. I bought it, it was a nice, thankfully unmanipulated master of an iffy Fox transfer. In the end, it turned out to be a holdover for a greater disc to come. No big deal guys.