V1 & Capture NX2 NEF noise reduction

V1 raw files opened in Capture NX2 are definitely less noisy than the same file opened in Lightroom which confirms the view that some NR is applied automatically within Nikon's software.

Once you have de-noised in Lightroom however, the end result is pretty much the same, although I have to say I prefer NX2 colour and tend to stick with NX2 for conversions.
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lowlander7