Yes, Neat Image is a *really* good NR package. It even does a reasonable job of reducing repetitive patterns such as half-tone dots, paper textures, etc.
I have quite a few NR packages installed and able to be used at a moment's notice on my system. In decreasing order of my use of them, they are:
The NR algorithm built into ACR and LR (which have gotten much better in recent versions of PS)
Neat Image
Topaz de-Noise
PS's Dust and Scratches
the Polaroid D&S program (for larger flaws)
Topaz Clean (not really a NR package, but occasionally it will do things none of the others will do).
The half-tone and NR software built in to my scanner software.
Also installed on my system is NR software from Power Retouche Pro, Medhi, and couple of others (that I can't remember at the moment), but they don't see much use.
I had several other NR packages installed (eg, Noiseware from Imaginomics, Noise Ninja, Softwhile's DeNoise), but they didn't make it through hardware and PS upgrades, and, to be honest, I don't really miss them as the ones on the above list do almost everything I need.
In the interest of full disclosure, it's been several years since I've had Noiseware and Noise Ninja on my system, so I really should go back and compare them to the other programs. I know a lot of other photographers swear by them.
Tom M