I had two different thought pictures in mind. But, I think that my first thought picture was confused. I was thinking that pulses emitted near the event horizon would be "smeared out" in time, but from a coordinate independent point of view, I don't think that makes any sense. The coordinate dependent viewpoint starts to get confused by the Schwarzchild coordinate singularities, so I think I'll stick with coordinate independent thinking.
The second thought picture is to re-frame the problem of "previous travelers" by imagining that all the travellers are on a very long spaceship falling into the black hole together.
Then, in the limit of an ultra-massive black hole, which requires that the length of the ship is less than the Schwarzschild radius of the black hole, the previous image of the bow of the ship falling in first is nothing mysterious, it's just like watching the bow of the ship from the stern. So - no redshift, for the ultra-massive case. But for any given black hole, eventually the analogy starts to get strained. For Sag A, that would be about a minute between travellers, if my numbers are not too far off.
For the case where the analogy makes sense, though, if we watch a beacon falling into a 4 million solar mass black hole with a 10 second head start, it should be the same as watching the same beacon in Minkowskii space from about 3 million kilometers (3 billion meters). There'll be no redshift, but it'll be fainter in intensity because of the inverse square law.