I’ve been using nearly the same code (with an exception of using dot instead of distance and few minor extra things, like additionally biasing the blend towards current frame in the regions of highly varying depth,coupled with using 3x3 SNN filter and averaged depth instead of minimum depth in a cross sample for velocity) for quite a while now.
While in the essence, this tweak simply reduces strength of anti-aliasing, depending on pixel’s velocity, what Konflict offers is a very good all-round solution, especially for foliage-heavy scenes.