to answer the question with fact here is what i found while trying to solve the 1 processor theory in many of the bench marks... yes there is hardware noise cancellation
The Snapdragon chipset platform is a highly integrated, mobile optimized system on a chip that features Qualcomm?s own ARM-based microprocessor core, graphics core, rich multimedia, GPS engine and wireless connectivity. Its advanced feature set includes:
Enhanced ARM-based CPUs designed from the ground up to deliver unprecedented computing performance
Industry-leading levels of power optimization, allowing manufacturers to design slim yet powerful devices with all-day battery life
Integrated 3G mobile broadband for a rich Internet experience with full Web browsing
Integrated GPU core for accelerated 2D and 3D graphics capabilities for rich multimedia, enhanced gaming, and user interface experiences
Built-in GPS engine with standalone-GPS and Assisted-GPS modes for access to real-time, personalized and location-aware content
High-quality, high-resolution camera, HD video record and playback, and enhanced audio with noise cancellation
Support for leading mobile OS?s such as Android®, Windows® Phone and Brew™ Mobile Platform