After restlessly testing Lightroom's RAW-developer against CaptureNX 2's I'm now almost sure that I'll switch to LR for future testing. See the following:

The image shows some small detail from a test-chart at 200% (!) magnification. On the left LR4 developed RAW with 70/0.5/36/10 sharpening. On the right CNX2 developed RAW with standard sharpening @3.
See haloing (1) around dark areas to artificially increase contrast and artifacts (dotted lines, 2) from CNX and false colors from moire (3) with LR. The false colors from moire can be eliminated with LR4's new anti-moire brush as demonstrated in the following image:

This image also proves that the anti-moire brush in LR4 does not brush over the luminance signal and makes the image less sharp.
The only thing that I've seen so far that CNX2 still does better is the elimination of longitudinal CAs (no correction for that at all in LR4) and some similar magenta colored lens aberrations. This will show in my 85mm prime shootout as the Nikon AF-S 85/1.4G is unfortunately capable of producing quite strong magenta CAs.
Now there are two possibilities: Show the non-corrected images as anybody could produce them out of LR4 or go for the extra step of processing in CNX2 to eliminate those CAs.
Currently I#m thinking of showing LR4-processed images as the standard in my tests plus the occasional CNX2 developed RAW to show what you could do against some nasty CAs.
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Btw.: Close scrutiny showed that there is indeed no perceptible difference between jpgs developed in-camera and the results from RAW-conversion with CNX2. But the benefit of using CNX2 on the RAWs is the possibility to alter any parameter of that development post-shot. E.g. reduce standard-sharpening from a value of 3 to 1. Which eliminates the halos in the first image (1) but does nothing against the artifacts (2) - besides of making them look less sharp.
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Footnote: don't forget that the above images are presented here at
200% magnification. This is Uber-pixel-peeping and should be avoided under normal circumstances

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Thomas (beware: Nikon-fanboy and moderator!)
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