What are the conditions that you are shooting that you would experience a lot of noise?
If you have ample light then noise is not an issue.
If however, you would always shoot in low light conditions, then I must admit that the W80 does produce noise..but doesn't any other P&S camera?
Remember that is a P&S camera nad I don;t know why too many people take a P&S too seriously and tend to compare it to a DSLR.
The most important feature of the W80 is the waterproofing and shockproofing.
If you don't need those, then you bought or want the wrong camera.
If you want better IQ but won't print it on 8"X10", then I would say that P&S would be pretty much the same print wise.
The problem today is most people pixel peep since the data is digital and they can zoom upto 100% if they so choose.
Just enjoy the camera and the places where you can take it and others can't.