A couple thoughts to add to the good info so far...
First off… I am an NR advocate and satisfied user.
Unfortunately, you can’t get significant conventional tape saturation with DBX because it treats the entire signal (broadband), is always working and adds about 30dB of headroom. But IMO, DBX is warmer and fuzzier than Dolby unless you push it too hard; then it presents harsh and non-musical distortion like digital when pushed above full scale.
Dolby (A and B), on the other hand, treat upper frequencies (selected bands) and disengages when the signal is hot enough to mask tape hiss, so it literally moves out of the way and allows tape to saturate as if there is no NR. Dolby C is more complicated in that it has anti-saturation and spectral skewing features, which later evolved into Dolby SR (Spectral Recording).
As already mentioned Dolby HX Pro is basically a dynamic biasing feature. Since high frequency content in the music itself helps bias the tape, HX Pro adjusts by backing off bias to the same degree that high frequency content is contributing bias. HX Pro is a very cool system, and although it is not NR it does contribute to a better dynamic range by expanding headroom. Both DBX and HX Pro prevent saturation by design.
Personally, I’m a DBX fan when it comes to multi-track NR, but here again it’s going to depend on the type of music or specific instruments you’re recording and your equipment. I can say it works exceptionally well on a lot of the later (mid 80’s - 90’s) Tascam stuff. Tascam R&D worked closely with dbx Incorporated in the 80’s to fine-tune it for their machines. Tascam DBX, particularly on products like the 246, 238, TSR-8 and MSR-16 is really a different DBX. YMMV with other products and/or outboard DBX units.
I like Dolby C as well (for mastering to half-track), but same situation as above… it’s not implemented well in every device that has it. Outboard Dolby C is hard to find because Dolby didn’t license it as a stand-alone option for very long. I use the Sony NR-500 Dolby C unit and can highly recommend it. The Nakamichi NR-200 is also an excellent stand-alone unit with a good rep; it has both Dolby B and C. (By the way, I recently saw a Sony NR-500 go for $9.99 on eBay.

I couldn’t believe it. If I didn’t already have two I would have bought it. People just don’t know they’re out there or what to look for. It should have fetched $100.00+ easily… kinda sad.)
No NR scheme is transparent, but I’ve found them indispensable in the work I have done over the years. But then I’m very particular about tape hiss and have been at war with it from my early recording days.
Calibration is critical and I’ve always been obsessed with keeping my machines in tip-top, including having the NR optimized. Tape selection is also critical in having success with NR. Except for a couple times when I ran out of tape, I’ve never used anything longer than C-60 length tape in a cassette portastudio in over 25 years, and always TDK, Maxell or Denon high bias… SA & SA-X, XLII and HD7, respectively. I keep the machine clean, and regularly degauss. I also demagnetize brand new tapes right out of the box before use… that goes for open-reel and cassette.
Yet, other competent recordists that are just as picky and have as much if not more experience don’t like NR, so there are plenty of legitimate reasons not to use it… except IMO on cassette multi-track, which would never have been invented if not for NR. They aren’t really designed to be used without it. If you have a cassette multi-tracker that allows you to disengage it, please don’t. I know there’re a lot of folks out there these days that see it as an option because there’s a switch. The switches are really to make the device more versatile… things like listening to consumer cassettes at normal speed that weren’t encoded with any sort of NR, or an incompatible NR… most commonly Dolby B. You can’t play those with DBX engaged, hence the switch. Track 4 or 8 on a cassette multi-track is commonly switchable so you can stripe it with sync code. Other than that the good normally far outweighs the negatives of even sloppy NR.
Another option is the single-ended “Smart gates.” These would best fit with a half-track mastering rig rather than multi-track. My favorite is
the Behringer SNR-202 Denoiser (older model made in Germany and the only piece of Behringer equipment I own)

It only works on playback, so you can record without NR and “Denoise” the tape during the mixdown phase, or from analog master to digital at the last stage.
In summery:
- Objections to NR of any kind are understandable because they aren’t created or implemented equally. Many DBX systems cause pumping and breathing artifacts and Dolby C as implemented on some multi-tracks can sound shrill and is vulnerable to mistracking. Dolby S and SR do better in most situations.
- Tape selection and proper calibration is often the difference between NR working as advertised and not working at all.
- Personally speaking NR has been a blessing for me
- IMO Tascam has done a better job than any other manufacturer to make DBX work
- Outboard NR units I can recommend:
dbx 150X (DBX Type I), dbx 140X (DBX Type II for cassette or consumer ree-to-reel), Sony NR-500 (Dolby C), Nakamichi NR-200 (Dolby B & C), Behringer SNR-202 Denoiser (AKA Studio Denoiser MKIII).
Hope that helps
