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I don't think View NX allows you to adjust white balance, exposure settings, etc., on the raw files though. I have Capture NX2 and I agree it's great for processing NEF files (much better than Lightroom/Adobe Raw) except for the workflow.
The above assumption regarding not having whitebalance is wrong. Maybe it held in an older version, but the newer version allows whitebalance adjustment on raw files and much more.
I have ViewNX 2 installed here, and I'm seeing on the Adjustments "Quick" menu on the right: Exposure Comp, White Balance , Picture Control, Sharpness, Contrast, Brightness.
When changed from quick to "All" you also get: Highlight Protection, D-Lighting HS, Color Booster, Crop, Staighten, Auto Red-Eye, Axial Color Aberration.
I'm adjusting a NEF right now and it is definitely working. The main difference between ViewNX 2 and CaptureNX 2 is that CaptureNX 2 allows you to mask and selectively apply these changes. You also get all the curves adjustments, and leveling you'd want. Along with many more features. Though if you want global adjustments to the whole picture, and don't need a high amount of control it looks like ViewNX2 would work well.