I'm no tech wizard but isn't the lack of grain down to the fact that it's not a high-definition picture? I'd say it's more the fact that the grain isn't as prominent due to the limitations of standard definition. Compare the New York Ripper dvd with the bluray - the former looks great but with less grain due to it being SD, the latter looks a lot better with more grain and detail due to it beind HD.
There's loads of films I've seen on dvd which don't have prominent grain which is only noticed when watching the bluray. I'd wager the Shameless releases are the same.
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