Hi guys, very interesting discussion! I agree with both of you on this one - Phil's charts are what I'd consider a qualitative measuring tool. They are useful the way Phil presents them but not for comparing between different charts.
Before I continue though, I need to introduce an ahem technical term called "painterly effect" or smudging effect. This is the result to too-agressive noise reduction, making the photo look like a 1900's century Seurat aka a smudged or pointilist painted look. To "make" one of these yourself, go to photoshop, take a file, and apply filter-dust and scratches and crank it up.
One thing I'm beginning to understand from using various cameras and from learning from writings by y'all and Thom Hogan is that noise reduction and the way noise reduction is performed is very important. I'm coming from using what is considered by most to be a VERY noisy camera (Kodak) to what is considered a VERY clean camera (20D and MkII).
However, the way the two companies (Kodak and Canon) handle the noise has a lot to do with this reputation. Canon cameras do agressive noise reduction on the hardware, Kodak (and Nikon) cameras do NOT do any noise reduction on the hardware, saving it for later processing in firmware, or Nikon Capture, Photoshop, etc.
The end result is what matters though, right? With the Kodak, I could start with a noisy RAW file, + a totally unacceptable JPEG and end up with a kick butt shot that didn't look too "painterly" Here's an example of a shot that people just would NOT expect out of the Kodak:

This shot was taken handheld at f3.3@ 1/20th ISO160.
Here's a crop from the lower left corner:

The JPEG was totally unacceptable, but with some good noise reduction applied, it comes out well. I agree it's not perfect, it's a little blurry, but I would have to say (seeing the FF Canon lens thread) that's just about as good as it's going to get folks. That's just my opinion of course.
With a Canon camera, I could have taken the same shot, and the noise reduction would have been applied before the RAW file was written to the card. The shot would look great. But I see this as a good and bad thing. It means the camera has good built in noise reduction, but it also means that the control of noise has been taken away from the user. With most people and in most cases, this is fine and even desirable, but not all the time. In talking with 1DmkII users lately, some report that their images are just too smudged or too smoothe looking, making them appear fake. I don't know if this is a legacy from the film shooting days, but I've heard it from more than one person. I tend to agree that sometimes, some noise looks good, but it depends a lot on the characteristics of the noise. I haven't had a chance to use my Canon cameras enough to say " I love the Canon noise reduction and feel like I don't need to control noise myself when using this camera." I'm hoping I will be able to say that though, so like with so many other things (metering, flash, etc) I can just "trust" the camera and electronics.
I know we haven't discussed it here before but I'm sure a few have thought about it but noise looks different from different sensors. Some is easier to remove than others and some looks better than others. End result noise may not vary a lot for the same sensor, but REALLY varies by camera brand depending on firmware - this has been proven by the 8 megapixel consumer cameras which all use the same chip.
So what kind of noise control and noise do you like? This will be especially important for folks looking to buy the D2x. Nikon has already said that they will not be using agressive on-chip noise reduction.
Cheers
James