The album is called The Resistance and I ought to win because I've been helping a friend to fit a Korg Kaoss pedal into his guitar in a similar vein to Matt Bellamy's and having gone to all the effort I ought to at least get to hear the original...
I agree the Holocause section probably was the best bit about those gigs. I loved it, walked away buzzing, but I'm not sure everyone got it. There were a few awkward faces around me in the crowd (or maybe that was just me...)
I reckon you can probably find the roots of the Holocaust section in John Cage, I mean other than volume, what's the difference between silence and noise?
MBV certainly aren't the only people to be doing it though. Sonic Youth's Silver Session's CD is pretty much just white noise/feedback, and you can listen back to loads of early avant-garde composers to find similar idea's of expression; Pauline Oliveros' A Little Noise In The System springs to mind (30 minutes of noise from a Moog synth).
Culture Industry were indeed awesome. DJ Ascetic is one of the most played songs on my iTunes playlist.