Absolute measurements are presented for the positron-impact cross sections for direct ionization and positronium formation of noble gas atoms in the range of energies from threshold to 90 eV. The experiment uses a cold, trap-based positron beam and the technique of studying positron scattering in a strong magnetic field. The current data show generally good, quantitative agreement with previous measurements taken using a qualitatively different method. However, significant differences in the cross sections for both direct ionization and positronium formation are also observed. An analysis is presented that yields another, independent measurement of the direct ionization and positronium formation cross sections that is in agreement with the present, direct measurements to within for argon, krypton, and xenon. Comparison with available theoretical predictions yields good quantitative agreement for direct ionization cross sections, and qualitative agreement in the case of positronium formation.