ok, i don't want to bring catholicism into all of this but in case you are not familiar with transubstantiation here's a primer: the wafer and wine become the body and blood of christ during its blessing on the altar, where in fact what is present, especially for the faithful, is no longer bread and wine - only the accidents of bread and wine are said to be remaining. what is now actually present is the body and blood of JC. the ufo artifact, especially the witness statement, (and even the photo to some extent), is kind of like that for me, but then catholicism can have that effect on you when your version of reality has been impregnated with a certain gestalt since a very young age.
i wonder about the role of perception, in what is seen, and like Bigfoot, whether or not you can actually take a picture of an alien craft, in that perhaps it exists in the form that it is reported in only in the minds of the witness because of the sociocultural inputs programmed into that specific mind to see the world in the way that they see it. the ufo is the accident that remains when someone's paradigm of reality, operating with a limited sense perception apparatus and power of recall, encounters what they believe to be is some other extreme "otherness," akin to god in its distance from us, and or inability to touch, grasp or comprehend it.
so i wonder if in things like the McMinnville photos that what we are seeing is perhaps just a mundane object from that era that merely looks like what our cultural expectations of a UFO are? i mean as far as objects go, it is just two still frames with some distinct movement, albeit, and that's pretty damn curious. but i also think that it is rather curious that it looks like something from a b-movie of that era. so i'm still pretty reserved about giving it a yes, but a curious yes.
ufo's for me are still a state of mind.