Here is my first test. I used a Nikon D90 (APS-C sensor, 4288 x 2848 pix) focused on a power line on a distant mountain. I used a Nikon 16-85mm lens at ISO 200, f11, 1/500 sec in full sun. I took eleven pictures of the same scene and converted them to uncompressed, unsharpened tiffs using a Photoshop actio. (By the way Chris, Photoshop CC did not open them all at once but processed them sequentially.)

Whole frame, shrunk for forum.
It was a windy day and after taking the images, I realized even the distant trees were moving too much to make useful targets. But the power tower on the right wasn't going anywhere so I concentrated on it, by cropping a vertical strip from the original image. (The tower on the left had clouds behind it that were moving, so they might have screwed up the alignment). Even so, I realize now that the alignment was made from the whole vertical strip, which included much vegetation, and so the alignment might be slightly off.
I upsampled all the images by a factor of three using the bilinear option in Photoshop. Then I put them all into a stack and had Photoshop align them. I then set their transparencies to 100/n where n is the layer number. Then flattened the image. Then cropped to just the power tower. Here is a comparison of the original tower image (from one of the eleven source shots) and the combined image. The original image is at left, the combined image is at right and outlined. The original image is resized to match the combined image. No sharpening or other adjustments were applied.

One of the original images at left. Combined image at right.
The difference is interesting but it may be mostly noise reduction. The noise reduction is striking; the original sky is very noisy in spite of the low ISO and bright sun, while the new sky is smooth. The most striking improvement is in the diagonal white power lines to the right of the tower; these are almost invisible in any individual shot but are visible in the combined shot.
However, I do not see any detail smaller than the original pixel size. I suspect a more sophisticated algorithm using pixel math may be needed for that. Theoretically I do think it is possible. Will do some more experiments and report back.
Edit: If this were film, I guess this is equivalent to using a lower ISO film, approx ISO 25.
Admin edit [rjl]: add link to earlier post