I've been using LR since Ver 1 beta and it keeps getting better. With Ver 4 I think the noise reduction algorithms are not too bad. I haven't done a lot of really high ISO imagery yet but I did try this shot of an airport terminal late at night using a Pentax K5 at ISO 12800 and used the NR in LR 4.2. I'm far from an expert on processing software so this is just for grins and giggles.
Hi Steve,
SNS-HDR (which is the thread you originally posted in, if I'm not mistaken) is special. In one of my many comparisons between the various software offerings, I came across yet another example of SNS-HDR's superiority, compared to the new LR4 functionality.
Here are two renderings of the same 7 exposure HDR bracketed series. I tried to optimize the new Lightroom 4.x capability to use 32-bit/channel floating point TIFFs from Photoshop (first image crop), followed by the current SNS-HDR rendering quality from the same 7 TIFF input files (while attempting to mimick the LR4 overall optimized look):
Apparently, SNS-HDR is the one that retains a non-posterized view of this admittedly extreme input, and Lightroom's cutting edge tonemapping technology fails, big time.
Cheers,
Bart