Noise Reduction is not a magic wand, but with patience and care you can get amazing results. A friend brought by some cassettes he made with a stick-on telephone mic of interviews of his parents in Kentucky. They (the tapes) were pretty awful. Loud hum, static, unintelligible speech...at one point he said his mother was talking, but her voice could not be distinguished. I recorded about 10 minutes of it into CEP to help him figure out how to clean it up (he has CEP at home, but has very little experience with it). Simply sampling the noise and then telling CEP to clean up the track resulted in "Alvin & the Chipmunks"; too much of the noise was in the vocal register. So we did a high pass sweep and a low pass sweep (telephones are pretty narrow-band devices), then lowered the % of noise reduction until the voices started popping out at us! This took several hours of experimentation over 2 evenings, but at last I sent him home with a sequence he could follow to make listenable CDs from these cassettes. It pays to be meticulous: once you have "Noise Reduced" some of the information out of existence, there's no way back (well, there are Undo commands, I guess). On the other hand, I have been recording vocals, of course through a really sensitive condensor, and had my neighbor fire up his leaf blower! In that case I was able to clean it up very nicely with one pass.