There are times when stacking moon images is useful, as you said. Rather than looking at stacking lunar images as a technique for noise reduction, view it instead as a tool for refining edge details. Most of the time, people only consider mean value stacking, but that will tend to soften edges at the expense of reducing noise. I use median value stacking on moon images. It is not very effective at noise reduction, but its main value lies in enhancing edges. The median filtering can result in some image distortion if the quality of the images being used are not especially good.
Just so users of astrophotography-specific software don't get confused (I did when I first read this), I believe Bill is talking about the "Focus Stacking" feature in Photoshop CS3 and later, in which the user can select a median blending mode. Registax doesn't allow the user to select the blending mode for stacking. DeepSkyStacker does, but it can't stack lunar images. I use Iris software for astrophotography, and it will stack lunar images, and allows the user to select from several different blending modes, including Median and Mean. Median usually produces better results for lunar photos, but due to better noise rejection, not edge enhancement. My Photoshop is CS2, which doesn't have the Focus Stacking feature, so I will take Bill's word that it helps with edge enhancement.
One other point when using a good solid tripod is that I would recommend keeping ISO as low as possible and let the shutter speed get as low as 1/50 second before increasing the ISO to a higher value. With my camera and lens (Canon 7D and 400/5.6 lens plus 2X and 1.4X TC for a FL of 1120 mm), the moon which has an angular diameter of 0.5 degrees represents a 2300 pixel width and height on the camera's sensor. With an approximate lunar rate of 0.0042 degrees/second, it would require a shutter speed slower than 1/20 second for motion blur to equal one pixel. (The angular resolution of the sensor with a 1120 mm FL lens is approximately 0.0002 degrees/pixel. At 1/80 second shutter speed which i used for my images yesterday, the moon traverses 0.0000525 degrees -- much less than the resolution of the sensor and probably somewhat less than the resolution of the lens/TC combination used.
Good advice if you have a rock solid tripod. I do, but most often when I'm shooting with only a camera lens I use a less than rock-solid but much easier to handle tripod. At long focal lengths, any movement of the camera, including that caused by a moderate breeze, will blur the image. If this is your situation too, decreasing the exposure time to a value that would be appropriate for hand-held imaging can save the results. We're not concerned about motion blur caused by the earth's rotation at sub-second exposures so much as motion blur caused by camera movement.
That definitely can be an issue if one wastes too much time capturing the images and does not do some planning ahead. However, by planning the time frame when the moon is near its highest elevation (essentially due south if you are in the northern hemisphere) and setting up the tripod mount so that most of the rotation will be in azimuth, a conventional tripod mount can be used with very little field rotation if all of the images are captured in just a few minutes.
Actually field rotation of a given object has the maximum rate when the object is at it's culmination (due north or south and at it's highest elevation). And field rotation always causes the field to rotate about the center of the field, so I'm not sure what you mean by "setting up the tripod mount so that most of the rotation will be in azimuth". Points on opposite sides of the center of the field move in opposite directions.
Don

