Grain was something of a necessary evil in the days before computer special effects/CGI. On old films you can often predict when an optical effect is about to happen, when there is a reel change and the picture is suddenly grainy. Optical effects often suffered through multi generations before going to a master.
That is why 2001 - A Space Odyssey is such a remarkable film. All of those effects are mechanical and optical. No CGI at all.
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