I used an LE version of the diamond cut software that came bundled with an older program, and it did a pretty decent job of eliminating noise if I didn't try to push it too far. It also does a few other things fairly well, similar to what Rory's Sony EZ Audio program does.
I agree with Ed and Rory on this one. So far, anything I have used will degrade the overall quality when I try to elminate complete sounds. My preferred noise reduction and editing software has been Cool Edit pro, but again, I don't push it. Mainly I use it to eliminate or silence any noise at the beginning of a track, or before the song itself begins and again at the end, and sometimes I stretch it to cover a drumstick type lead in. I'm a few versions behind so I'm not sure what Syntrillium ( Cool edit ) has out there now, but it wasn't exorbitant price wise.
AJ
_________________________
AJ