Abe Wong (email@example.com)
Images are aligned using normalized correlation of the derivative over a window. See relevant sources for more information.
Window of blue channel
Kernel from green channel, flipped.
Running on a WEH5336 Red Hat machine, the small sample images run almost instantaneously. The offset calculations for the large images run in ~12 seconds on the full image, and ~5 seconds using a 5-level pyramid. These times are approximate since MATLAB looks like it starts having virtual memory issues if the alignment is run repeatedly on the large images.
Large Train (471k JPEG)