One added comment on Color Efex Pro. You must update CEP to version 3.003 to get the prompt for the 32 bit version. You can log into your account at Nik for the upgrade.

Capture NX2 is a solid RAW converter for Nikon. It's main strengths are the simplicity in matching Nikon camera settings to your software, non-destructive edits that can be easily modified, excellent control points and smart selection from Nik, and a very efficient way of managing file size and versions. The basic functions including conversion can be handled with the free program - View NX2.

We've done some side by side testing vs. Lightroom. Each program has different strengths. Each will handle 95-98% of your editing. Lightroom is far better with availability of plugins and is probably better with an Adobe centric workflow. Both Capture and Lightroom can be used to achieve excellent results - the differences are in the skill of the user.

I'm curious to see how well the "new" noise reduction method works. Not that I'm really considering using it (it would interrupt my workflow and I haven't been overall impressed with Nikon software) but I'm still curious.

Nikon has released Capture NX2 version 2.3. The new version has a number of enhancements to speed and performance. The new version is better - especially with larger files like the D3x and the D7000 (and maybe future cameras).

The new software can be installed as a 32 bit or 64 bit application. For users of Color Efex Pro 3.0, the 32 bit application should be selected. With Windows, select 32 bit during installation. With a Mac, you can move back and foorth between 32 bit and 64 bit operation. Color Efex 3 is not compatible with 64 bit Capture NX2.