Pro Low-Light on X20
That technique can be useful with any camera, even a DSLR, provided the subject isn't moving. Stacking five or preferably more high ISO shots in Autopano Pro (for example) reduces noise while preserving texture better than NR software, I think - although NR processing and high ISO performance have both improved over the years, and so I do it less than I used to a few years ago.-- hide signature --
Yes, I certainly agree with your point about it being better than conventional NR reduction processing which smears the detail. I struggled to get a high quality image out of the X20 at ISO800 yesterday, yet with frame stacking in-camera it was very good. I'm sure any multi-frame blending software would do the same or better - in fact I've seen it with Photomatix HDR processing as well. The X20 (and Sony) in-camera processing does actually seem allow a certain amount of movement and reduce/eliminate ghosting, up to a point anyway.
Coming from APS-C sensors in the past few years, I was a bit dismayed that the X20 ISO400-800 range is as noisy as it is, but the results from the multi-frame techniques mean I don't have to put it away when the sun goes down.