This article from Alister Chapman seems to indicate that 10bit isn't as important as a high data rate to keep down noise, and that 10bit eats into your data rate.
http://www.xdcam-user.com/forum3/viewtopic.php?f=27&t=38
The first thing to consider is that a 10 bit codec requires a 30% higher bitrate to achieve the same compression ratio as the equivalent 8 bit codec. So recording 10 bit needs bigger files for the same quality.
He refers to "codecs", but what he's saying about 8bit vs. 10bit only applies to uncompressed acquisition formats. This wouldn't apply to something like AVC-I for example.
Properly implemented 10-bit compression (e.g. some AVC impementations) is actually more efficient than 8-bit encoding from the equivalent 8bit codec. It doesn't take 30% more bandwidth, you actually can use on average 5-15% LESS bandwith for equivalent quality, or better quality at equivalent bandwidths. ie. Higher PSNR at equivalent bitrates.
Have a look at page 3 of this Broadcast Engineering article for more info
http://broadcastengineering.com/hdtv/avch-encoding/index2.html
Some more info from Ateme (<2MB)
http://www.mediafire.com/?wy88vih0a0uc7f9
Now he is absolutely correct about low noise being important, but "noise" from camera and/or sensor is different than "noise" generated by compression.
Actually better compression or uncompressed preserves more noise from the signal sent by the camera that the onboard compression wouldn't have preserved. People always complain that uncompressed or low compressed HDMI/HDSDI captures are more noisy than the native onboard codec, but higher detail goes hand in hand with higher noise. You can selectively denoise in post, but you cannot recover details that were not recorded in the first place
