Long exposures with DSLRs is very well explored in the astrophotography field where you really are eeking out the most from a very low signal. There you take a number of different types of images (lights, darks, bias and flats) which each help reduce a different type of noise which is very important when dealing with very low signal to noise ratios.
Long exposure NR is the equivalent of 1 light + 1 dark from the astrophotography world and is there to reduce the thermal noise/hot pixels in the camera and works by taking an image with the shutter closed (which maps what the sensor is doing only). It has to be done at the same settings and temperature as the original image and cannot be replicated in post. If you have the time to do this, it is worthwhile.
High ISO NR is just a different way of processing and is probably better done in post where you can be more selective about what gets blurred away.
Bottom line, LENR: yes, HINR: no.