Well it has less by way of controls than Noiseware but results can be pretty comparable. I decided to give them something to get their teeth into, a brightly lit image with contrasting colours shot at iso3200. Neither handled the red very well but both did quite a good job on the yellow. Noiseware I just left on it's default settings, PC I had to adjust, the result is pretty much the same as noiseware if I set the PC 'quick' slider to level 2
Unfiltered
Picture Cooler
Noiseware
Bearing in mind that Picture Cooler is free at the moment I reckon it's more than worth the money