Canon XF300 Example of Colour Correction and Noise Reduction
Did this test the other day with the Canon XF300, first clip is the original footage shot at a gain of +6db, second shot colour corrected using the HY-COLOUR PRO Plug In for FCPX 10.1.3 and above. Exported this colour corrected clips as the Neat Video doesn't work with the HY-COLOUR plug in at the same time.
Better to adjust your exposure etc before applying any noise reduction as if you reduce the noise first you are then going to re introduce it again. So Grade first then use noise reduction :)