hmm I recognise this place! And some of you!
Old photo is old! That said I'm trying to beat lightroom somewhat - noise reduction in Lightroom 4 is impressive, certainly giving Neat Image a run for its money. I've still finer control over it in Neat Image, but honestly its a hard run race (esp since I've honestly not the best idea what I'm doing in Neat Image!).
Also I'm convinced that Lightroom is still rendering my shots with a more grainy/hard noise than what I've been used to with Photoshop Elements - I'm really not sure if this is a lightroom setting or not (I can't seem to find the control). I notice it most when opening up RAWs and lightroom tells me that "there is new editing options for this shot convert - yes/no".
Also I think I went a bit over the top - I can see banding (but then this monitor I'm on is a shocker for showing banding when no one else sees it so it might just be this screen).