I've not seen the extent of the damage in motion just on screen shots but it possibly adds to the grindhouse feel of it.
I remember seeing Dawn of the Dead a few years back in the theatrical cut, it was a very well worn print which had clearly been doing the rounds for years, it popped, it jumped, it slipped down during playback. It added to the event, everyone was laughing and cheering and having a few beers.
However I have read that this makes the screen flash a bit during the first reel so it might not be as 'fun' to watch as general print damage from over playing.
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