The two signals which are "interfering" are added together. The amplitude of the resultant signal varies sinusoidally, as the instantaneous phase difference between the two signals goes from 0->2pi. One way of describing the signal would be that it is a separate tone (sitting in the middle of the two frequencies) being amplitude modulated by a signal at the beat frequency... which is what you hear and why you "hear" the beat frequency) I went with this way of describing the signal because you were talking about "an arbitrarily high frequency signal getting louder and softer 440 times per second" which is the definition of amplitude modulation.
Counterintuitively, there is no frequency component generated at the beat frequency when you sum a 1kHz and 1.001kHz signal, its easy to test that out with matlab, octave, scipy/numpy/matplotlib, etc. Generate the two signals, add them together, and look at the Fourier transform, you'll see two components, one at 1kHz and one at 1.001kHz (assuming you take a long enough window to have that type of resolution) and no component at the beat frequency. A third sinewave doesn't just jump out of nowhere when you add two separate sinewaves together.
If you take the sum of those two signals and run them through an ideal brickwall highpass filter at 999Hz so there are no frequency components below 999Hz, you'll still "hear" the beat frequency because it isn't a separate spectral component, its just the two signals slowly going out of phase, cancelling eachother out, and then going back in phase and boosting the amplitude.