I have been using a similar technique for quite a while with my moon shots. Since I don't have the latest version
of PS (I am still on PS7 if you can believe it), I have used Zerene Stacker to align the photos. Here is an 11 shot
example, hand held. I over processed the image to illustrate a point to a friend. I did not look for noise (suppression)
since it was not an issue but certainly overall sharpness has gone up in the composite compared to any one single image.
This is a 56 image composite using Zerene Stacker again. Handheld, went for bursts with A77II and 70-400. You can get
plenty pixel shifting holding that monster at 60o angle.