Using Neat Image noise removal software - advice needed

[Overread]

Ok so I've got this software package and I've gotten some impressive results with it, but thus far only from my very light tinkering with sliders and not really with any understanding of what I am doing nor the direct effect of what I'm changing is having save what I can get from the preview box.
So I'm out to learn some more about using this software to a better standard than I currently am. For reference my current workflow is outlined below:

1) Open image in Photoshop Elements - process from RAW and then open up in the editor itself.

2) Open the Neat Image plugin interface

3) Use the Device Noise Profile for the 400D for the selected ISO value (profile downloaded of the Neat Image website). Working in colourspace YCrCb (I have no idea what this means)

4) Select an area of the photo for the Rough Noise Analyser - making sure that no warning factors are displayed and that the bar itself has as little/no coloured flecks in it (ie the selection window is clean)

5) Use Auto Fine tune and Auto complete

6) Move to the Noise Filter Settings tab

7) Use Filter and Sharpen Image *

8) Review the preview image and adjust the sharpening sliders experimentally to try and get a pleasing result - again this is another area where I'm operating blind as to what I am doing; I can only see the result.

9) Click apply and the editing is done.

As you can see there are a lot of stages where I am either totally reliant on the auto settings in the software or simply reliant on a level of blind luck as I adjust the settings to get a decent appearance. If anyone has any pointers I'd greatly like to have your input in this matter.


* I am aware that I should strictly speaking use filtering only on the first pass and then run the software again as a final process for sharpening only (and use layermasks in the main area of elements to mask the effect of sharpening off from areas that do not need it).