Noise reduction - In camera or out?

[jumpinminnow]

I know I really need to test this for myself, but I'm hoping some of you have. Here's the scenario, what I think I know and what I'd like to know.

I shoot with a D300 in RAW. I process in CS3 through ACR and I have the Noise Ninja plugin.

Nikon offers two different types of noise reduction - High ISO and Long exposure. The former kicks in at ISO800 or higher and it only affects the jpegs - not the RAW file. LENR basically performs black frame subtraction in the camera and I'm not sure if this effects the RAW file or not so I need some help with that.

When I use NN it's my understanding their camera profile settings are based on jpegs and since I don't usually shoot those I should have the program evaluate each image individually rather than using presets.

So is my philosophy to use NN to reduce noise and turn off the camera noise reduction features the best solution for what im shooting? If LENR affects RAW the would it be better to turn it off and let NN handle it, turn it on and not use NN as double noise reduction may soften the image or do both noise reductions to get the best image.

I'm just wondering if some of you have been down this road before. Thanks.

[kenw]

I would go for the one that gives YOU the most control. In-camera rarely does altho I'm not familiar with the technicalities of Nikon's offerings.