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I use LR, but hardly ever us NR. When I do, it is in the range of Masking 10, and Luminance 10-20. More than that, and I see fine detail softening in normal use. I recently shot at ISO 1600 with 5D2 and left the NR at zero, keeping the fine detail and accepting some noise. I avoid shooting above 1600, so noise isn't much concern.
I like the idea of no noise, and the suggestion of multiple image variations merged via PS is great. In the evolving Digital Age, I'm sure a camera will do "noise mapping" in-body very soon, as an advanced variation of long exposure NR, but without the long second exposure. In the next few years, I expect noise to be a thing of the past, or an affectation used intentionally.